Pursuits
S&P 500 Sucker Punched as VIX Jumps 16% From Year’s Lowest Level
U.S. stocks fell the most in three weeks as comments Friday from Fed Chair Janet Yellen that borrowing costs would be boosted this year were followed by data adding to evidence of a recovery in American economic growth after a first-quarter slowdown.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
The calmest markets in six months and the best run of economic data this year spelled trouble for U.S. stocks after a three-day break.
The combination ignited yesterday, with the Standard & Poor’s 500 Index falling more than 1 percent as a benchmark gauge for equity turbulence surged the most since January. The Chicago Board Options Exchange Volatility Index jumped 16 percent to 14.06.