VIX Surges 24% in a Single Session, Exceeding 25 Points
The Volatility Index VIX soared by 24.17% in a single session to settle at 29.49 points on Tuesday, March 10, 2026, before the opening of European markets, significantly crossing the 25-point threshold that traditionally marks a high tension zone. This sharp movement of the indicator, nicknamed the 'fear index' of Wall Street, reflects a sudden increase in risk aversion in global financial markets.
Context of the Last Thirty Days
The context of the past thirty days highlights the magnitude of the shock. Between the end of January and mid-February 2026, the VIX was in a low zone ranging between 16 and 18 points, reflecting generally calm markets. A first phase of concern emerged at the end of February, pushing the index to 23.57 points on March 3, before a temporary return below 22 points. The session on March 5, at 23.75, seemed to indicate an ongoing normalization. The jump recorded this morning to 29.49 points thus abruptly breaks this sequence. Historically, a VIX above 25 is associated with marked stress phases in the stock markets, as was the case during major geopolitical or macroeconomic turbulence episodes. The 'high tension' signal is now activated, reflecting an increased demand for coverage from institutional operators on S&P 500 options.
Partial Correlation Observed at Session Start
The classic correlation between the rise of the VIX and the fall of stock indices is partially verified at the start of the session. In Europe, the CAC 40 is down 0.98% at 7,915.36 points, while the SBF 120 loses 1.02%, indicating notable selling pressure on the Parisian market. These declines, although close to the symbolic 1% threshold, illustrate the nervousness that has set in across the Old Continent's exchanges. Conversely, Asian markets show an opposite tone: the Nikkei 225 closed up 2.88% at 54,248 points, and the Hang Seng advanced by 2%, suggesting that the VIX spike primarily reflects specific concerns in the American and European markets. The American indices — S&P 500, Dow Jones, and Nasdaq — have not yet registered any change, as their markets have not opened yet, leaving the extent of the adjustment to come on Wall Street still uncertain.
