VIX Rises 14% to Highest Level in Four Months on Debt Impasse

U.S. equity derivatives surged, sending the Chicago Board Options Exchange Volatility Index to the highest level in four months, as a stalemate over the debt ceiling pushed the nation closer to default.

The VIX, as the measure is known, rose 14 percent to 22.98, a level last reached on March 18. VIX August futures added 8.4 percent to 21.3, while September futures gained 5.1 percent to