The VIX index, which shows the stock market’s expectations for 30-day volatility and is often called Wall Street’s “Fear Gauge”, rose to 39, the highest since October 2020, after China introduced retaliations in the United States, data from TradingView shows.

The increase combined with the sharp sales in the US stock index futures led the traders to increase the estimates of the Federal Reserve Interest cuts to 116 basic points this year, up from 100 basic points before China News hit the wires, CME’s Fedwatch Tool shows.

Bitcoin (BTC) traded 0.7% lower in the day to $ 82,500 at the press time, after having previously set heights above $ 84,600. Bitcoin’s 30-day implicit volatility, represented by Deribit’s DVOL index, rose to an annual 54.6%, the highest in two weeks.