(CNBC) A key measure of expected volatility in the stock market surged to its highest level in more than four years on Monday morning as global equities fell sharply. The Cboe Volatility Index, or VIX, briefly broke above 65 on Monday morning, up from about 23 on Friday and roughly 17 a week ago. It had cooled to around 38.6 by about 4 p.m. ET in New York, which would still be its highest closing level since 2020.
Wall Street’s ‘fear gauge’ — the VIX — hits highest level since the pandemic market plunge in 2020
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