Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise.
FILE PHOTO: Traders work on the floor of the New York Stock Exchange in New York, U.S., March 20, 2020. REUTERS/Lucas JacksonThe Cboe Volatility Index , known as Wall Street's fear gauge, is set for its biggest weekly gain in about two months, reflecting a sell-off that has taken the S&P 500 index down nearly 4per cent from its April 29 high. VIX futures have jumped as well, with investors now pricing elevated risk into June contracts.
For now, a pile-up of worrying domestic and international news appears to have given investors a reason to pull back on equities after the S&P 500 notched its best monthly gain in decades in April.U.S. President Donald Trump has ratcheted up rhetoric on China, floating the possibility of cutting ties with the world's second-largest economy.
The VIX on Monday touched its lowest level since late February before reversing course as expectations for market volatility grew later in the week. Several investors are now positioning for further turbulence by shunning value sectors such as energy and financials in favor of technology and healthcare, two areas that have held up relatively well during the recent market turmoil.
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