Investors are bracing for more volatility this summer after this year’s calm in global financial markets was shattered.
A surge in the Vix index — the market’s “fear gauge” which shows how far investors expect US stocks to swing over the next month — to its highest level on Monday since the start of the coronavirus pandemic in early 2020 could herald a tougher period for global stocks and put a dampener on capital markets activity in the short term, said analysts.
“This is a regime shift,” said Ajay Rajadhyaksha, global chair of research at Barclays, who described the Vix’s peak on Monday as “pretty scary”.
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