Volatility Increases Ahead Of Fed Minutes, Debt Ceiling Deadline As Market Turns Lower
Portfolio Pulse from Melanie Schaffer
The CBOE Volatility Index (VIX) surged 9% higher as concerns over the US debt default and the release of the Federal Reserve's meeting minutes grow. The S&P 500 fell 0.7% as the market prices in a hawkish tone from the Fed and a heightened risk of debt ceiling discussions failing. Traders can use MIAX's SPIKES Volatility products to trade the volatility in the stock market.
May 24, 2023 | 3:40 pm
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The S&P 500 fell 0.7% as the market prices in a hawkish tone from the Fed and a heightened risk of debt ceiling discussions failing. Traders can use MIAX's SPIKES Volatility products to trade the volatility in the stock market.
The S&P 500 is directly impacted by the increasing volatility in the market due to concerns over the US debt default and the release of the Federal Reserve's meeting minutes. The market is pricing in a hawkish tone from the Fed and a heightened risk of debt ceiling discussions failing, which is causing the S&P 500 to fall. This negative sentiment is likely to result in a short-term downward pressure on the SPY ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100