VIX Up 40% After AI Stocks Slip, Jobs Report Shakes Wall St
Wall Street’s fear gauge surged almost 40% Friday after tech stocks tumbled, dragging the Nasdaq down 4.2% and the S&P 500 off 2.6%. A strong U.S. jobs report flipped sentiment to worries over rates. The Cboe Volatility Index, or VIX, which tracks the expected S&P 500 swings based on options, jumped to 21.51. It finished Thursday at 15.40. Jobs data didn’t move markets lower. The U.S. Bureau of Labor Statistics reported nonfarm payrolls rose 172,000 in May, with the unemployment rate steady at 4.3%. Leisure and hospitality, local government, and health care jobs increased. Financial activities lost jobs.