From Equity Research
Equities were broadly down in October as investors grew cautious in response to surging COVID-19 case counts and the uncertainties around the Presidential election which have continued as vote counting continues post-election. The VIX Index, or “fear gauge,” started the month in the mid-25 range and spiked at month-end to over 38. For the full month, two of the three major equity indexes declined with the Dow Jones Industrial Average down 4.6%, the S&P 500® index down 2.8%, and the smaller cap weighted Russell 2000® increasing 2.0%.