Pandemic's latest spread triggers surge in VIX 'fear gauge' for US stocks

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

Wall Street's 'fear gauge' is on track for its biggest weekly jump since March as investors worried about rising U.S. and European coronavirus ...

Wall Street's"fear gauge" is on track for its biggest weekly jump since March as investors worried about rising U.S. and European coronavirus cases, the lack of fiscal stimulus and uncertainty about the U.S. presidential election outcome.

The Cboe Volatility Index surged on Wednesday to its highest level since June, ending at 40.28. At the same time, the benchmark S&P 500 stock index fell 3.5per cent.The VIX had climbed on Monday amid concerns about a tightening U.S. presidential race. With Wednesday's jump, the index has surged nearly 13 points this week.

"Markets are confronting a perfect storm," said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina. VIX futures, which have long reflected expectations for higher volatility toward year-end, have also risen. November futures, which capture the weeks following the election, were trading above 35 on Wednesday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Greenlight's Einhorn says tech stocks in bubble, hit top in SeptemberTechnology stocks, which have surged for months during the pandemic, likely hit their top last month, hedge fund investor David Einhorn wrote on ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Stocks slide on surging Covid-19 cases, stimulus doubts; dollar risesNEW YORK (REUTERS) - Stocks across the globe posted their biggest decline in a month on Monday (Oct 26) as surging coronavirus cases in Europe and the United States clouded the world economic outlook, giving the US dollar a safe-haven boost.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »