The VS TR 2x Long VIX Futures ETF (UVIX) closed down 0.86% at $3.44 on January 8th, as volatility in the markets saw mixed signals with the Cboe Volatility Index (VIX) experiencing a 5% surge. The underlying VVIX index fell by 2.63% to 103.57, reflecting a complex trading environment where market participants are hedging against uncertainties. The VIX's movement was influenced by Wall Street's reaction to the latest FOMC meeting minutes, which indicated a potential slowdown in monetary policy adjustments. Despite the hawkish tone, stock indexes managed to recover some losses, contributing to the volatility. Additionally, the market is grappling with the implications of Trump tariffs and rising yields, which have driven demand for safe-haven assets like gold, further complicating the volatility landscape.