economy
March 12, 2026
The market won't bottom until investors get more scared. Watch this 'VIX' level
Stocks still have a long way to go before selling pressure stemming from the Middle East conflict subsides, according to Wolfe Research.

TL;DR
- Wolfe Research predicts continued selling pressure on stocks due to the Middle East conflict.
- The VIX, or fear gauge, spiked to 35.3 and remains elevated, indicating potential for large market swings.
- Investor fear and oil prices have risen, with Brent crude nearing $100 per barrel.
- Stocks are still trading near record levels, despite a 3% fall in the S&P 500 since late February.
- Maximum investor fear, marked by a VIX above 40, has not yet been reached, according to strategist Chris Senyek.
- Market recovery is expected only after the VIX exceeds 40 or when a resolution to the Middle East conflict is reported.
- Investors are advised against increasing exposure to riskier assets due to ongoing volatility.
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