VIX Suggests More Pain For US Stock Markets Ahead

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) jumped more than 4% after markets closed on Tuesday.

Check out stocks making big moves in the premarket.

US stocks had a rough day, ending Tuesday’s trading session with losses. The Dow Jones index lost 0.62%, while the S&P 500 was down 0.92%. The Nasdaq Composite and Nasdaq 100 shed 0.95% and 0.97%, respectively.

ServiceNow Inc’s (NYSE:NOW) stock tanked almost 13% on Tuesday, after CEO Bill McDermott warned of macroeconomic headwinds during CNBC's Mad Money show. This dragged down other cloud stocks. Shares of Salesforce Inc (NYSE:CRM) lost almost 5%. Enphase Energy Inc’s (NASDAQ:ENPH) stock fell more than 8%, after gaining over 6% in a week.

Travel stocks performed well amid the broader sell-off. American Airlines Group Inc’s (NASDAQ:AAL) spiked almost 10%, while shares of United Airlines Holdings Inc (NASDAQ:UAL), Carnival Corp (NYSE:CCL), Boeing Co (NYSE:BA) and Delta Air Lines Inc (NYSE:DAL) climbed 8.09%, 7.54%, 7.42% and 6.15%, respectably.

Investors await inflation data, scheduled for release on Wednesday. Inflation rate in the US is widely projected to accelerate to 8.8% in June, from 8.6% in May, driven by a surge in gasoline and food prices.