Market Extra: Did 2022 break Wall Street’s ‘fear gauge’? Why the VIX no longer reflects the sorry state of the stock market

Joyful day together in cozy and warm apartments. Happy attractive guy with beautiful girl looking at each other laughing and hugging on sofa.

U.S. stocks are about to cap off their worst year since 2008. But investors wouldn’t know it by glancing at Wall Street’s favorite “fear gauge.”