VIX closes at 19.42 as volatility rises ahead of US session
Published on 11/02/2026 at 13:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSVIX outlook before US trading
- The VIX closed at 19.42 on October 30, up 12.91% from the previous close.
- Technology-sector losses and concerns about heavy artificial-intelligence spending drove the latest volatility spike.
- ISM manufacturing data, the November 3 midterm elections and the November 6 employment report are the main near-term catalysts.
The VIX enters Monday's Europe-midday slot as a pre-session indicator for US equities, with regular US trading yet to begin. The latest completed Cboe session was Friday, October 30, when the index closed at 19.42, up 12.91% from the previous close of 17.20. The move marked a clear increase in expected equity-market volatility, but the index remained below 20.
According to Cboe, the VIX measures market expectations for near-term volatility derived from S&P 500 Index option prices. Its October 30 market data showed an intraday high of 22.31, while the spot index later settled at 19.42. That retreat from the session high indicates that volatility demand eased before the close, although it remained materially above Thursday's level.
Technology losses set the tone
The latest increase followed a broad selloff in US technology shares. Saxo Bank reported that the S&P 500 fell 1.8% on Friday, while the Nasdaq 100 dropped 3.5%, as disappointing technology earnings and concerns about artificial-intelligence spending pressured valuations. The same report said Asian equities recovered from early losses on Monday, suggesting that the overnight backdrop was less uniformly defensive than Friday's US close.
Saxo also reported that the November VIX future traded near 19.450 in early European trading, below the spot index's Friday close but still elevated. That is a futures-market observation rather than a new VIX spot reading and should not be combined with the Friday close to calculate an index move.
Several risk events are approaching
The immediate US calendar provides several potential volatility triggers. The October ISM manufacturing report is scheduled for Monday at 10:00 a.m. Eastern Time, followed by the US midterm elections on Tuesday, November 3. The October employment report is due on Friday, November 6, at 8:30 a.m. Eastern Time. CNBC listed the ISM report, Election Day and nonfarm payrolls among the week's key events, with FactSet expecting 55,000 October payroll additions and an unemployment rate of 4.2%.
For investors, the setup is one of elevated but not crisis-level implied volatility. The VIX's move above its previous close reflects higher demand for protection after the technology selloff, while the upcoming data and political events leave room for further repricing. The index itself does not indicate the direction of stocks, so its next move will depend on how markets interpret the incoming information and the associated risk to earnings, interest rates and economic growth.
Further VIX coverage is available on the VIX topic page.
