VIX Inches Closer to Key Level After Fed Meeting Minutes
- Volatility Index at lowest since August stock market rally
- Fed’s meeting minutes signal a slowing in pace of rate hikes
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The Cboe Volatility Index, or VIX, extended its decline Wednesday to close at its lowest level in more than three months as stocks climbed after minutes from the Federal Reserve’s most recent meeting signaled that investors could soon see a slowing in the pace of interest rate hikes.
Wall Street’s fear gauge fell to 20.35. The last time it finished lower was Aug. 18, in the heat of the summer rally, when it was still trading under the key 20 threshold.