Some of the biggest of these companies, such as Tesla TSLA.O and Facebook owner Meta Platforms META.O, are also heavily weighted in the S&P 500 index. Fed Chairman Jerome Powell has vowed to raise rates as high as needed to kill inflation but also believes policymakers can guide the economy to a so-called soft landing. Investors have looked at various metrics to determine when markets will turn higher, including the Cboe Volatility Index .VIX, also known as Wall Street’s fear gauge.