, Columnist
Covid Fear Is Back and Driving Markets Again
A spike in volatility reflects concern over the economic impact of the latest wave of cases in the U.S. and Europe.
The U.S. is plainly in a third wave.
Photographer: ANGELA WEISS/AFP/Getty Images
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Volatility is back. Monday saw the VIX index, which tracks how investors spend to hedge against volatility in options markets, jump above 30 for the first time since the brief but violent correction for FANG stocks in early September. That correction was very much internally generated, as a buildup of speculation through call options forced investors to buy tech stocks. This incident is somewhat different: