Analyst Divyang Shah said equities, led by AI and tech, faced heavy selling last Friday and VIX briefly climbed above 20 while the VIX futures curve steepened. The volatility shock has since eased: spot VIX remains slightly above pre-selloff levels, near-month futures have converged with spot, and the futures curve has moved down modestly but stays upward-sloping. Shah said the pattern suggests the spike did not trigger a structural shift in sentiment—risk tone remains broadly constructive, thou

Analyst Divyang Shah said equities, led by AI and tech, faced heavy selling last Friday and VIX briefly climbed above 20 while the VIX futures curve steepened. The volatility shock has since eased: spot VIX remains slightly above pre-selloff levels, near-month futures have converged with spot, and the futures curve has moved down modestly but stays upward-sloping. Shah said the pattern suggests the spike did not trigger a structural shift in sentiment—risk tone remains broadly constructive, though investors are cautious on recent AI/tech gains as Friday’s losses are absorbed.