Wall Street is freaking out


Stocks sank for the sixth consecutive day on Thursday, with the Dow Jones Industrial Average plunging more than 500 points. Even though the drop was not as dramatic as Wednesday's 800-point drop, Wall Street is more worried than ever.
The CBOE Volatility Index, sometimes referred to as the "market fear index," is at its highest point since February, CNBC reports. After a slight uptick, fears went skyrocketing on Thursday afternoon as sell-offs continued at frightening rates.
The VIX indicates when investors are getting concerned that markets aren't experiencing a simple "correction," as Treasury Secretary Steven Mnuchin characterized it. The spike to 28.84 shows that the Dow's 1,400-point loss over two days, as well as inflation and continually rising trade tensions between the U.S. and China, could seriously disrupt the relatively steady gains in recent months.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The decline over the past week has rippled through Asian markets, with indexes in Tokyo, Hong Kong, Shanghai, and Taiwan falling between 3 and 6 percent on Thursday. President Trump has blamed the Federal Reserve's newly-raised rates for the tumble. Read more at CNBC.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Summer Meza has worked at The Week since 2018, serving as a staff writer, a news writer and currently the deputy editor. As a proud news generalist, she edits everything from political punditry and science news to personal finance advice and film reviews. Summer has previously written for Newsweek and the Seattle Post-Intelligencer, covering national politics, transportation and the cannabis industry.
-
Can US tourism survive Trump's policies?
Today's Big Question The tourist economy is 'heading in the wrong direction'
-
September's books tell of friendship in middle age, teachers versus fascists, and Covid psychosis
the week recommends September books include Angela Flournoy's 'The Wilderness,' Randi Weingarten's 'Why Fascists Fear Teachers' and Patricia Lockwood's 'Will There Ever Be Another You'
-
'Total rat eradication in New York has been deemed impossible'
Instant Opinion Opinion, comment and editorials of the day
-
New York court tosses Trump's $500M fraud fine
Speed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in Intel
Speed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to China
Speed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year