The VIX panic index soared to its highest level since April's tariff turmoil.

The Chicago Board Options Exchange Volatility Index has risen to its highest level since April last year, as investors have been buying protective measures to cope with the risk of further decline in the stock market. The index closed up over 6 points this week, at above 29 points, while for most of this year, it has been below the 30-year average level of 20 points. The single-day 6-point increase in the VIX was driven by factors such as the decline in the S&P 500 index, bearish market positions, and increased uncertainty about the future direction of the stock market.