Fears that failures at US regional lenders including Silicon Valley Bank could portend a much bigger issue are sweeping across the globe, prompting Wall Street traders to seek shelter in the options market.
The Cboe Volatility Index, a gauge of options cost tied to the S&P 500 known as VIX, jumped Monday to briefly exceed 30 for the first time since last October, while the equity measure sank as much as 1.4% before paring.
