Wall Street ‘fear gauge’ posts record intraday jump as stocks slide

Wall Street’s most watched gauge of investor anxiety logged its largest ever intraday jump on Monday, as U.S. stock futures tumbled on rising fears the United States could be tipping into recession.

The CBOE Volatility Index jumped to a high of 65.73, up about 42 points from its close on Friday, as Wall Street looked set to continue the global stock rout that saw Japanese shares at one point exceed their 1987 “Black Monday” loss.

The VIX was last up 34 points at 57.15, its highest since March 2020.

“It seems like a liquidity crisis … this is very, very unusual,” said Joe Tigay, portfolio manager for Rational Equity Armor Fund.

 

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