Wall Street Is Now More Scared Than Crypto Traders After a 70% Fear Gauge Spike

The Cboe Volatility Index, a gauge of expected 30-day S&P 500 volatility known as Wall Street’s fear gauge, closed at 28.18 after jumping about 70% on Nov. 5, its third-largest gain in history, as the Nasdaq Composite fell 5.52% to 24,315 and entered correction territory. The S&P 500 lost 4.36%, and the Philadelphia Semiconductor Index dropped 12.25%. By Friday morning, CNN’s Fear and Greed Index for stocks stood at 20, indicating extreme fear, down from 47 a month earlier and 26 the previous week. The Crypto Fear and Greed Index fell to 28 from a neutral 50 a day earlier, leaving stock sentiment more fearful than crypto sentiment.