After the brief volatility spike last month, the CBOE Volatility Index—commonly known as the VIX or the “fear index"—has plunged back to more normal levels. It is currently trading around 15, down from the recent peak above 65. Volatility has been relatively low for nearly 2 years, for the most part, and has been resetting from the record-setting surge during COVID. Of course, as the market meltdown from several weeks ago demonstrates, volatility has the potential to rear its head at any time.
Source: FactSet, as of September 3, 2024.