The Cboe Volatility Index, also known as the market’s fear gauge, sank a little further on Tuesday as the market chased another day of gains.
The VIX slipped below 25 for the first time since President Donald Trump’s Liberation Day on April 2, when he announced sweeping tariffs that upended the stock market. Normally any reading above 20 is considered high and indicates a period of turbulence for stocks.
Five days of advances for the S&P 500 have helped calm nerves, however. With a slew of earnings coming the rest of the week though, there’s plenty of room for the gauge to change direction again.