VIX Jumps as Portugal Bank Concern Fuels Stock Losses
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A measure of European stock-market volatility rose the most in four months and the U.S. VIX jumped as concern over Portugal’s banks spurred a rout in equities.
Europe’s VStoxx Index increased 12 percent to 16.85 as of 3:27 p.m. in London, heading for the biggest advance since March. The Chicago Board Options Exchange Volatility Index climbed 7.8 percent to 12.56. The gauges track the cost of options and are considered measures of investor fear. Both are up more than 22 percent this week.