VIX 'Fear Index' Sees Biggest Weekly Jump Ever

By Wallace WitkowskiMarketWatch Pulse

The CBOE Volatility Index jumped Friday to levels not seen since January, and was on track for its largest ever weekly percentage jump as a broad selloff in stocks continued for a fourth straight session. The VIX, or so called "fear index," surged more than 25% to 23.97. For the week, the index is up nearly 87%, making it the largest weekly percentage jump in the VIX, according to FactSet data. The previous largest was back in early May 2010, when the VIX jumped nearly 86% on the week. On Friday, the Dow Jones Industrial Average and S&P 500 Index were on track for weekly declines of more than 4%, and the Nasdaq Composite Index was on track for a weekly decline of more than 5%.

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