This has been a strange year for the stock market. What was odd wasn't performance per se--the S&P 500 steadily climbed this year, rising by nearly 20% as of this writing--but rather the lack of volatility or concern in what, to many people, has felt like one of the more uncertain environments in a long while.
Threats of conflict with North Korea, a special counsel investigation, a war of words on social media between world leaders, and more could have caused investor panic. Yet the VIX index (which measures market volatility) hit all-time lows in 2017, while equity valuations climbed.
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Bryan Borzykowski does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.