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The CBOE Volatility Index (VIX) has experienced a significant drop of 63% over the past nine weeks, marking the steepest decline in its history. Currently, the VIX is near 17, well below its long-term average of 20, signaling low fear among traders as the S&P 500 Index has recently surpassed the 6,000 level.
High-beta sectors have seen notable gains, with the Technology Select Sector SPDR Fund (XLK) rising approximately 11% and the VanEck Semiconductor ETF (SMH) increasing by around 16% in the last month. The Roundhill Magnificent Seven ETF (MAGS) is also up by 10.75%. Despite recent positive job data and eased tensions with China, concerns about underlying risks remain, as historical patterns suggest calm markets can precede sudden volatility spikes.
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