From Dow Jones & Company:

The stock market has had a rocky start to the new year, but the VIX, a measure of expected S&P 500 volatility, remains below its long-term average, sparking concerns over complacency among market participants.

The VIX rose slightly this week but is still below its December high and its long-term average, but its increase has caused pressure on equities. The S&P 500 was on track for a weekly decline, breaking a nine-week streak of advances, as investors wrestled with expectations for Federal Reserve rate cuts in 2023.

Concerns remain that investors have priced in a smooth economic landing and lower interest rates, potentially leading to market disappointment if data do not align with this narrative.



Read more: What this key stock-market gauge is telling investors amid a rough start to 2024