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27.02.2020 16:01:04

Wall Street's 'fear index' on pace for 2nd-biggest weekly jump in its history as coronavirus sends stocks into correction

The Cboe Volatility Index early Thursday was on pace for its second-sharpest weekly surge in its history as fears about the spread of COVID-19, the infectious disease derived from the novel strain of coronavirus that originated in Wuhan, China last year, slammed equity markets anew. The VIX, referring to its ticker symbol, is up almost 90% so far this week, which is second only to its 118.5% jump for the week ended Aug. 21, 2015, according to FactSet data. The VIX itself, which uses S&P 500 options to measure trader expectations for volatility over the coming 30-day period and is often referred to as a guide to the level of investor fear, was last trading at around 32.24, not far from its highest level in about two years back in December of 2018 amid a brutal selloff at the end of 2018 that pushed it to an intraday high above 36. Thursday's slide comes as the Dow Jones Industrial Average , the S&P 500 and the Nasdaq Composite Index all fell 10% from their recent peaks intraday, putting the indexes in a condition defined as correction. The VIX was created in 1993 and its historical average level is about 19. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Weiter zum vollständigen Artikel bei "Market Watch"