The ProShares Short VIX Short Term Futures ETF (SVXY) declined by 1.96% to $49.90 as of 4:40 PM on Wednesday, November 20, 2024. The CBOE Volatility Index (VIX) surged 4.95% to close at 17.16, reflecting increased market volatility amid geopolitical tensions and economic uncertainties. The ongoing conflict between Ukraine and Russia has heightened investor anxiety, prompting a shift towards safer assets. Additionally, the market is on edge due to the upcoming Nvidia earnings report and Fed Governor Michelle Bowman's cautious remarks on interest rates, which have further complicated the market landscape.