Nasdaq on pace for more 3% declines in 2022 than in 2021 as volatility spikes

Yahoo Finance's Jared Blikre explains Wednesday's chart of the day on Nasdaq performance.

Video Transcript

JARED BLIKRE: Well, let's go to the YFi Interactive now for our chart of the day. And it is of the NASDAQ Composite, which is having its best day in about two weeks. You can see it's up 370 points and nearly 3%. But I'm going to put a candlestick chart on. Here's a stat of the day for you. We have had three 3% down days in this year in 2022, and that is more than we had in all of 2021. And I think that just really exemplifies the volatility that we've had this year.

So I just want to check out the VIX because we were just talking to JJ Kinahan. He was saying the VIX over 30 is indeed a little bit worrying. You can see the VIX still trending solidly higher here. So I think investors want to know, are we out of the woods just yet? It's a little bit too early to tell, but I've been talking about that growing chorus of analysts on Wall Street cautiously turning optimistic. Of course, the situation is fluid, as they say. But we do have the beginning, the very beginning of potentially a rally here. Akiko.

AKIKO FUJITA: Hmm, an interesting chart there, Jared, going back to what JJ said earlier about how names like Apple and Microsoft are back to being sort of safe havens, and he's seen the push in that direction. So tech overall at least seeing a bit of a bounceback or a big bounceback today, up nearly 3% if we're talking about the NASDAQ.