The Cboe Skew Index, which measures options traders’ demand for tail-risk hedges, has risen sharply since Nov. 12, when it touched a post-election low. The index closed above 167 on Monday, its highest reading in more than two months, according to LSEG data.

Stocks wavered in afternoon trading on Wednesday, as losses for several Big Tech companies offset gains elsewhere in the market. The S&P 500 fell 0.4% in afternoon trading, even though more stocks were rising than falling in the index.

U.S. stocks rose to records after Donald Trump's latest talk about tariffs created only some ripples on Wall Street

Traders are eyeing potentially hotter inflation, and dialing back their bets for Fed rate cuts into next year.

Dow Jones Industrial Average was at 44,860, on pace for a roughly 7.4% monthly gain, which would be its best month since Nov. 2023, according to Dow Jones Market Data. S&P 500 ind