VIX breaks above 20 as Greenland tariff threat jolts Wall Street — and hedging is back
The VIX jumped 29% to 20.46 Tuesday as U.S. stocks opened sharply lower, with the Dow down 653 points and the S&P 500 off 1.4%. Traders cited new tariff threats linked to Greenland for the spike in volatility. Safe-haven assets rose as investors shifted positions. A Bank of America survey showed cash holdings at a record low and nearly half of respondents unhedged against a major sell-off.