Stock Market Volatility Tops Financial Crisis With VIX at Record
- Equity ‘Fear Gauge’ closes at 82 after S&P 500 sinks 12%
- Spreading coronavirus threatens to tip economy into recession
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Volatility in U.S. stocks surged to a record after benchmark indexes suffered the biggest rout since 1987.
The Cboe Volatility Index ended Monday at 82.69 as the S&P 500 Index tumbled 12%. The fear gauge’s prior closing high was 80.86 on Nov. 20, 2008, when lawmakers postponed a vote on a plan to save the auto industry. The gauge’s rose as high as 83.56 during the session, short of its intraday record of 89.53 reached on Oct. 24, 2008.