Wall Street’s fear index is showing little sign of overt concern about events in Middle East and Ukraine
Markets may be right in looking past today’s geopolitical strife but it suggests any worsening of conditions is not priced in. Photograph: Angela Weiss/AFP/Gettychief executive Jamie Dimon is certainly concerned. This “may be the most dangerous time the world has seen in decades”, he warned recently, saying wars in Ukraine and Gaza may have “far-reaching impacts” on global markets.
Dimon’s colleague, strategist Marko Kolanovic, is also worried. Already bearish, Kolanovic says Middle East tensions are another reason why investors should be wary about stocks. Meanwhile,Why was the tourism sector ignored in the budget? Nevertheless, it’s striking that the Vix, Wall Street’s fear index, shows little sign of overt concern. It has increased, but is currently hovering around 19, in line with historical norms. Indeed, the Vix is currently enjoying its longest period of calm in five years.
Market calm doesn’t mean investors are complacent – markets may be right in looking past today’s geopolitical strife – but it suggests any worsening of conditions is not priced in.
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