VIX Climbs 10%, Dow's Record Streak Snaps After Bank of Japan's Surprise: Why Are Markets Flipping Thursday?
Portfolio Pulse from Piero Cingari
The VIX index surged over 10% amid speculation that the Bank of Japan might remove the yield curve control, causing major U.S. stock indices to turn red. The SPDR Dow Jones Industrial Average ETF (DIA) broke its record streak, losing 0.7% for the session. The iShares Russell 2000 ETF (IWM) fell 1.3%, and the Financial Select Sector SPDR Fund (XLF) was down 1.3% following new regulations by U.S. regulators. The iShares 20+ Year Treasury Bond ETF (TLT) declined by 2%.
July 27, 2023 | 8:11 pm
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NEGATIVE IMPACT
The SPDR Dow Jones Industrial Average ETF (DIA) broke its record streak, losing 0.7% for the session.
The speculation of Bank of Japan's policy change has caused a surge in the VIX index, leading to a negative impact on the DIA's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The iShares Russell 2000 ETF (IWM) fell 1.3% amid the market volatility.
The speculation of Bank of Japan's policy change has caused a surge in the VIX index, leading to a negative impact on the IWM's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The iShares 20+ Year Treasury Bond ETF (TLT) declined by 2% amid the market volatility.
The speculation of Bank of Japan's policy change has caused a surge in the VIX index, leading to a negative impact on the TLT's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Financial Select Sector SPDR Fund (XLF) was down 1.3% following new regulations by U.S. regulators.
The new regulations by U.S. regulators mandating banks holding over $100 billion in assets to increase their capital requirements has negatively impacted the XLF's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100