U.S. stock markets closed lower on Thursday after a choppy session.
The market indicator known as the fear gauge was falling early Friday, but it remains high compared with where it was for most of the year. The CBOE Volatility Index, also known as the VIX, was down about 1% to 20.3. It spiked to almost 40 in the market turbulence of early August and has risen again in recent days as the conflict in the Middle East escalated.
U.S. stocks closed higher on Wednesday as investors reacted to stronger-than-expected private sector job gains and anticipated further Federal Reserve interest rate cuts in November.