What Happens to U.S. Stocks After Each VIX Surge?

Bank of America points out that within 4 to 8 weeks after the first surge of the VIX, the S&P 500 often struggles. However, when the VIX spikes above 45 points within a week, the S&P 500 tends to achieve higher returns over the following 13, 26, 39, and 52 weeks.