VIX rose to 23.93 last Friday as market anxiety intensified ahead of the midterm elections.

On November 4, the Chicago Board Options Exchange Volatility Index (VIX) rose to 23.93 last Friday and remained above 20 on Tuesday, according to an Investor’s Business Daily report.

Adam Turnquist, Chief Cross-Asset Strategist at LPL Financial, stated that concerns over artificial intelligence stocks and potential hedging demand ahead of the midterm elections may have driven the VIX higher. Turnquist noted that near-term VIX futures prices exceeded those of long-dated contracts, indicating that investors are seeking short-term protection; the current index level reflects heightened investor anxiety but remains well below the extreme levels typically associated with market capitulation.