Macro glossary

S&P 500

A market-cap-weighted index of 500 leading US companies.

Definition

The S&P 500 is the most widely followed US equity benchmark. Sustained declines of 20% or more ('bear markets') have accompanied recessions in most cycles, though not all bear markets are recessionary.

Related indicators

S&P 500

Track the S&P 500 index in real time. Bear markets (20%+ decline) have preceded or coincided with ev

VIX

Track the CBOE VIX — Wall Street's fear gauge. Combined with the yield curve, VIX cycles outperform

Related terms

VIX (Volatility Index)

The CBOE's measure of implied 30-day volatility on the S&P 500, sometimes called the 'fear gauge.'

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