Volatility Bites Back as Trade, Bank Drama Spooks Investors
Volatility returned with a vengeance this week, as traders weighed trade tensions, earnings, and financial sector fears.
The Cboe Volatility Index (VIX) hit its highest level since May, while the Dow Jones Industrial Average (DJI) snapped its five-day losing streak on Monday after President Donald Trump attempted to smooth U.S.-China trade tensions.
However, the respite was short-lived, with China imposing new sanctions on five of Hanwha Ocean's subsidiaries in the U.S., and Trump threatening to issue a cooking oil embargo.
Upbeat bank earnings initially contributed to optimism, but couldn't keep the Dow afloat for long, as borrower fraud and bad loan incidents involving Zions Bancorp (ZION) and Western Alliance (WAL) made investors jittery and dragged bank stocks lower.
Fears around the financial sector lingered on Friday, though the three major benchmarks remained on track for weekly gains.
No specific quote available in the text.
Author's summary: Volatility spikes amid trade and bank concerns.
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