Wall Street 'fear gauge' jumps to three-month high as stocks resume slide

NEW YORK - Wall Street's most watched gauge of investor anxiety jumped to a more than three-month high on Thursday as U.S. stocks fell sharply after a round of data on Thursday spurred concerns the economy may be slowing faster than anticipated.

The concerns, which have pulled the S&P 500 Index down about 4% from its July 16 record closing high of 5,667.2, have also spurred a jump in trading in VIX options. The index is up 14% year-to-date.On Thursday, some 1.5 million VIX options contracts changed hands, nearly twice the average daily volume for the options, according to Trade Alert data.Meanwhile, the VVIX index - a gauge of expected swings in the fear index - closed up 16.93 points at 111.

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