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The VIX (S&P Volatility Index) closed below 10 Tuesday and Monday. This is the first time it has happened since the end of December 1993.

While the VIX remained low for a couple more years after dropping below 10 in 1993, volatility did pick up in the months after and the market struggled.

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vix

Source: S&P Volatility Index Hits 13-Year Low