VIX falls 22% to 19.92 as Wall Street rebounds, oil slides

Key takeaways

• The CBOE Volatility Index (VIX) closed at 19.92 at 21:15 UTC on Monday, Nov 9, 2026, down 5.72 points or 22.31% from its Nov 6, 2026 close of 25.64, according to Yahoo Finance data.
• The drop came as the S&P 500 rose 2.35% to 7,549.94 and the Nasdaq Composite gained 2.74%, with chip stocks rebounding and crude oil falling, CNBC reported.
• US-listed ASEAN country funds rose on Nov 9, 2026: the iShares MSCI Indonesia ETF gained 2.38%, Thailand 2.20%, Singapore 2.15% and Malaysia 0.93%, based on Yahoo Finance closing prices.
• The VIX is now well below its Nov 5, 2026 close of 28.18 but still above the 16.61 close of Nov 4, 2026.

The VIX, Wall Street's main gauge of expected volatility, fell 22.31% to 19.92 at the close (21:15 UTC) on Nov 9, 2026, as US stocks staged a broad rebound led by technology shares and helped by a sharp fall in oil prices, according to Yahoo Finance and CNBC.

What happened to the VIX on Nov 9, 2026

The index opened Monday's session at 25.08, which was also its high for the day, and touched a low of 19.64 before closing at 19.92, Yahoo Finance historical data show. The 5.72-point fall erased most of the jump recorded during the previous week's AI and chip-stock sell-off, when the VIX closed at 28.18 on Nov 5, 2026.

The move happened alongside broad gains in US equities. According to CNBC's closing figures, the Dow Jones Industrial Average rose 1,104.02 points, or 2.15%, to 52,389.75; the S&P 500 rose 2.35% to 7,549.94; and the Nasdaq Composite advanced 2.74% to 25,253.14. TheStreet, in a report syndicated by Yahoo Finance, published the same closing figures and the same VIX close of 19.92.

Data: Yahoo Finance daily history, US closing prices (21:00 UTC for ETFs, 21:15 UTC for the VIX) on Nov 6 and Nov 9, 2026.

Why did the VIX fall? What the reports say

News reports tied the drop in volatility to two developments: a rebound in semiconductor shares and lower crude prices.

Chip rebound. CNBC reported that chip stocks recovered from the prior week's AI-driven sell-off, with the iShares Semiconductor ETF (SOXX) rising more than 7% on Nov 9, 2026. Jay Hatfield, CEO of Infrastructure Capital Advisors, told CNBC the chip sell-off had been "overdone." TheStreet reported that markets were trying to stabilise and buy the dip after the tech-led decline; Daniela Hathorn of Capital.com said the rebound "looks more like a tentative recovery in risk appetite" than a reversal.

Oil slide. According to CNBC, West Texas Intermediate crude settled at $86.85 a barrel, down 4.38%, and Brent crude settled at $92.57, down 5.85%, on Nov 9, 2026; the report did not specify the contract months. CNBC said falling crude lifted investor sentiment, while Hatfield described elevated oil prices linked to the Middle East conflict as a continuing overhang for markets.

No single official trigger, such as a central bank decision or economic data release, was cited by either outlet for the volatility drop.

What we know and what we don't know yet

• Known: the VIX closing level and change, the US index closes, and the oil settlement figures reported by CNBC for Nov 9, 2026.
• Known: Nvidia fell about 4% despite the rally after its board opened an investigation into reports about CEO Jensen Huang's relationship with a businesswoman whom US intelligence agencies say is a Chinese spy, CNBC reported. TheStreet reported Nvidia's board said it has "no reason to believe company secrets were compromised." The allegations have not been tested in any proceeding.
• Not yet known: how Southeast Asian cash markets will trade on Nov 10, 2026. As of 00:00 UTC on Nov 10, 2026, the Indonesia, Thailand, Singapore and Malaysia exchanges had not opened for the day.
• Not yet known: whether the lower volatility will hold. Chris Senyek, chief investment strategist at Wolfe Research, told CNBC: "We believe markets are likely to remain very news flow driven."

Background: from 16.61 to 28.18 and back below 20

The VIX measures the 30-day volatility that options traders expect in the S&P 500. It closed at 16.61 on Nov 4, 2026, before jumping to 28.18 on Nov 5, 2026 during a sell-off in AI and chip stocks, as covered in our report on the VIX's 70% jump and ASEAN funds. It eased to 25.64 on Nov 6, 2026, Yahoo Finance data show, before Monday's slide. For a primer on how to read the index, see VIX fear index explained; for the weekly context, see our US stocks weekly brief for Nov 6, 2026.

What it means for ASEAN investors

The US-listed ASEAN country funds, which trade during New York hours and so reflect US investor demand after Southeast Asian exchanges close, all finished higher on Nov 9, 2026. Indonesia's EIDO and Thailand's THD led with gains above 2%, Singapore's EWS rose 2.15%, and Malaysia's EWM lagged with a 0.93% gain, according to Yahoo Finance closing data. On Nov 6, 2026, the Singapore, Thailand and Malaysia funds had slipped further from their Nov 5, 2026 closes while EIDO rose, so Monday's gains marked the first rebound for three of the four funds since the VIX spike.

A lower VIX reading signals that options traders expect smaller swings in US stocks over the coming month than they did last week. It does not by itself predict the direction of Asian markets, and none of the reports cited here drew a direct link between Monday's move and Southeast Asian equities.

This article is for information only and is not investment advice.