The Vix is going nuts.
The Vix is also referred to as the volatility index and captures how much markets expect the S&P 500 to move over the near term.
In early trading on Friday, the Vix jumped by more than 11%.
Of late, the Vix has been tumbling as volatility has declined meaningfully from the stock market. But on Friday, volatility was back.
In the US, the Dow slid by as much as 260 points, over 1% lower. The Nasdaq was also lower by over 1%.
Stocks elsewhere are getting crushed. Stock futures in China fell by more than 5%, and European stocks are selling off.
Much of the data this week has missed economists' forecasts: Housing starts, initial jobless claims, and retail sales all whiffed. Economic data out this morning showed US consumer prices rose less than expected in March.
But the University of Michigan's consumer sentiment index rose to 95.9 this month, beating expectations for 94.
So, a wild day in markets, which has seen the return of volatility to markets.
Here's the chart.
NOW WATCH: UNBOXED: Apple's sleek new gold MacBook with just one port for everything
See Also:
