The CBOE VIX (VXX) pulled back sharply on Wednesday, as stocks soared in the wake of the U.S. presidential elections.

Thie Chicago Board Options Exchange Volatility Index touched an intraday low of 28.03 on a scale of 1-100 where 20 represents the historic average. It would eventually settle down 16.6% at 29.64.

iPath S&P 500 VIX Short Term Futures ETN: (NYSEARCA: VXX) Designed to offer exposure to the S&P 500 VIX Short Term Futures Index Total Return. The Index uses CBOE Volatility Index futures by way of a long position in the first and second-month VIX Futures contracts. VXX declined by 8.7%.

ProShares Short VIX Short-Term Futures (SVXY) to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. SVXY advanced 4.4%.

ProShares UltraShort Term VIX Futures: (UVXY) UVXY designed to deliver 1.5X (leveraged) returns of the day’s moves in the S&P 500 VIX Short Term Futures Index. It tacks the two front months of the futures contract. UVX declined by 12.9%.

Investors continue to eye the global spread of COVID-19. As of Wednesday, more than 47.6 million people infected with the novel disease, including 9.4 million in the United States. Unknown condition, including 9.3 million in the United States.