VIX Rises a Record Eighth Day as Europe Concerns Increase
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The Chicago Board Options Exchange Volatility Index advanced for a record eighth day as surging Spanish and Italian bond yields intensified concern about the European debt crisis.
The gauge known as the VIX, which measures the cost of Standard & Poor’s 500 Index options, rose 8.4 percent to 20.39 today. That’s within 0.8 percent of its lifetime average of 20.54, according to data compiled by Bloomberg. The S&P 500 fell 1.7 percent.