VIX jumps 38.05% to 22.93 as equity volatility surges
Published on 11/05/2026 at 22:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSVIX closes sharply higher
- The VIX ended November 5 at 22.93, up 38.05% from the previous close of 16.61.
- Cboe data showed the index at 22.93 as of 4:32 p.m. Eastern time after a turbulent session.
- CNBC reported that the volatility gauge moved more than 11 points from its intraday low to high as semiconductor selling and broader equity liquidation unsettled markets.
The Cboe Volatility Index ended Thursday, November 5, at 22.93, marking a gain of 38.05% from the previous close of 16.61. The closing data were shown by Cboe as of 4:32 p.m. Eastern time, after the regular US trading session had ended.
Volatility expands during equity selloff
The daily increase was accompanied by a wide intraday range. CNBC reported that the VIX moved more than 11 points from its intraday low to high, its largest one-day move on that measure since April 9. The index rose above 28 early in the session, its highest reading since March 31, before ending below the session peak.
CNBC linked the volatility surge to a sharp decline in US equities and persistent pressure on semiconductor shares. The S&P 500 was down about 3% in the market context described by the report, while the semiconductor selloff added to uncertainty over whether the move reflected a broader liquidation rather than a single macroeconomic shock. One market participant quoted by CNBC said that oil prices and interest rates were relatively unchanged and characterized the tape as a liquidation.
What the VIX measures
The VIX is designed to measure market expectations for near-term volatility implied by S&P 500 index option prices. Its sharp rise indicates that option-market participants were pricing greater expected equity-market turbulence than in the previous session. It does not by itself establish how long the higher-volatility regime will last or predict the direction of the S&P 500.
The move also reverses the calm reflected in Wednesday's close. The previous-session level of 16.61 was cited by Cboe as the comparison close, making Thursday's increase a substantial one-day repricing of implied volatility. Investors should distinguish this spot-index move from VIX futures and options, which can reflect different maturities and expectations.
Market relevance for investors
A higher VIX can raise the cost of portfolio protection and signal more demanding conditions for risk assets, but the index is not itself an investable stock and cannot be treated as a direct forecast. The key question after Thursday's jump is whether elevated volatility persists across subsequent sessions or fades as semiconductor and technology trading stabilizes.
Further VIX coverage is available on the VIX topic page.
