VIX at 65 ‘Isn’t That Surprising’ in Panicked Market, Cboe Says

The great volatility spike of 2024 was triggered by a sudden wave of deleveraging on Wall Street — rather than a collapse of economic confidence with echoes of the pandemic-era dark days. Now all market signs suggest that calm is set to return to US stocks after the recent mayhem.

That, in a nutshell, is the benign message from the owner of the Cboe Volatility Index, which registered its largest intraday jump last Monday, in a move dubbed suspect by the former Treasury Secretary Lawrence Summers.

Cboe Global Markets Inc. acknowledged that thin trading premarket played a role in VIX’s ...