S&P 500 Drops as VIX Jumps on Ukraine, Mideast Tensions
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The Standard & Poor’s 500 Index fell the most in three months and the VIX had the biggest jump in more than a year amid intensifying tension in Ukraine and the Middle East.
The S&P 500 fell 1.2 percent to 1,958.12 at 4 p.m. in New York. The gauge hadn’t risen or fallen 1 percent on a closing basis for 62 days, the longest streak since 1995. The Dow Jones Industrial Average slipped 161.39 points, or 0.9 percent, to 16,976.81. The Chicago Board Options Exchange Volatility Index surged 32 percent, the most since April 2013, to 14.54. More than 6.6 billion shares changed hands on U.S. exchanges today, 15 percent above the three-month average.