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The
CBOE Volatility index, an options-based measure of investor
expectations for near-term stock market gyrations, hit 21.33
points, crossing the psychological mark of 20 points for the
first time since Oct. 30, 2023.
Israel launched an attack on Iranian soil on Friday, sources
said, in the latest tit-for-tat exchange between the two arch
foes that has threatened to drag the region deeper into conflict
and sent investors scrambling for safe-haven assets.
Meanwhile, with recent U.S. data painting a picture of a
resilient economy, money markets now expect the Federal Reserve
to cut rates by about 40 basis points this year, well below the
roughly 150 bps expected at the start of 2024, according to LSEG
data.
The benchmark S&P 500 has slid more than 4% this month through
Thursday, cutting its gains for the year to about 5%.
(Reporting by Shristi Achar A and Shashwat Chauhan in Bengaluru;
Editing by Savio D'Souza)
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