The VS TR 2x Long VIX Futures ETF (UVIX) is experiencing significant upward movement due to heightened market volatility driven by concerns over China's DeepSeek AI product. This new technology has disrupted the competitive landscape, particularly affecting U.S. tech giants, and has led to a sharp selloff in tech stocks. The CBOE Volatility Index (VIX), often referred to as the "fear gauge," surged by 28% to 19.03, reflecting increased market anxiety. The tech sector's turmoil is further exacerbated by the anticipation of the Federal Reserve's upcoming meeting, where no interest rate cuts are expected, adding to the uncertainty.
The current price of UVIX is $31.57, marking a 15.12% increase from the previous close of $27.42.