Finance
VIX jumps as stock markets plummet
Reuters
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The Cboe Volatility Index, or VIX, has more than
doubled in the last week.
-
Spike in volatility comes as fears of a major
market correction come to the forefront of investors
minds.
-
VIX hits 24.38, its highest level since the
market sell-offs in February and March.
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You can follow
the VIX at Markets Insider.
Volatility is returning to the stock market in a big
way.
The Cboe Volatility Index — or VIX — has more
than doubled in the last week, and added another 6% on Thursday,
as fears of a major market correction come to the forefront of
investors minds.
The VIX reflects expectations for volatility in the S&P
500, and trades inversely to the benchmark roughly 80% of the
time. The index is often known as the stock market’s “fear gauge”
because it tends to jump during periods of uncertainty and
worry.
At the root of the selling are concerns over inflation and
rising interest rates, which have caused
a major sell-off in global equity markets over the past two
trading sessions, with US futures pointing to another big drop
once North American trading begins later on Thursday.
By 10.30 a.m. BST (5.30 a.m. ET) the VIX is at 24.38 — it’s
third highest level of the year, beaten only by major spikes in
March and February,
when the VIX hit a peak of 29, its highest level since the
Chinese market sell-off in August 2015.
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