Wall Street Stays Calm Even as Stocks Fall

Stocks were sliding on Thursday as the trade-relief rally fizzled out, but investors were still feeling zen.

The Cboe Volatility Index, a widely-followed fear gauge that tracks S&P 500 options and trades under the ticker VIX, crept up 2% to 19 in early trading. Any reading of below 20 is typically seen as a sign of relatively low uncertainty.

The VIX tumbled after the U.S. and China brokered a deal to scale back tariffs for 90 days. That agreement has calmed the market down after a period of panic, although the Trump administration will likely need to give investors more good news on the trade front if the recent surge in stocks is to last.