VIX Soars Most in Four Years to 48 on U.S. Rating; VStoxx Jumps
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The VIX soared the most in more than four years and Europe’s volatility index increased for a record ninth-straight time after Standard & Poor’s stripped the U.S. of its top credit rating.
The VIX, as the Chicago Board Options Exchange Volatility Index is known, advanced 50 percent to 48 at 4:15 p.m. in New York, its highest level since March 2009. Europe’s VStoxx Index climbed 15 percent to 45.30 and Hong Kong’s HSI Volatility Index advanced 6.1 percent to 35.93, both rising to the highest since May 2010. Korea’s Kospi 200 Volatility Index surged 25 percent to the highest level since May 2009. The India VIX rose 16 percent to 28.78, its highest level since June 2010.