VIX Surges Past 60 Level, Up 18%+ Today

November 6, 2008 1:44 PM EST
CBOE Market Volatility Index, commonly referred to as the VIX is pushing substantially higher today. Prior to the last two days of trading, the VIX was at its lowest level since the beginning of October, but the "fear index" has bounced about 44% over yesterday and today's sessions, implying a drastic increase in market pessimism. (a VIX reading over 30 indicates severe market pessimism, while a VIX reading under 20 indicates market optimism.)

The VIX is currently around 64.32, up nearly 18% today.

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