Volatility Is Calmer Than During Other Stock Bear Markets

US stockmarket volatility, while elevated, is far off levels usually observed during other powerful bear markets. The Cboe VIX Index hasn’t crossed the 40 points mark since the latest selloff began, something unseen over the past two decades. Even during the slow market decline following the bursting of the dotcom bubble in the early 2000s, volatility spiked higher on several occasions…