VIX Fear Index Surges the Most Since the Brexit Crisis

vix-fearFrom ZeroHedge: The VIX spiked higher today, as investors sold stocks off ahead of this Friday’s crucial Fed Jackson Hole speech.

Chinese money-market rates are spiking again…

Turmoil? VIX spikes over 10% (yes we know percentages on VIX), but still, this is the biggest surge since Brexit…

As a reminder, from earlier, VIX term structure is its steepest since 2012…

And bad stuff happened…

A look at futures provides more details on the price action as Oil weakness and some turmoil in China money markets start to ripple through US equities… VIX hit 14 into the close which sparked instant vol-selling and spiked stocks in the last minute..

Small Caps and Nasdaq were the worst performers on the day (with Nasdaq almost the worst day since Brexit)…Trannies panic bid was unable to get them green on the day

Pushing all the major indices red on the week…but the panic bid into the close lifted Small Caps green

Leaving the S&P back in the twilight zone…

The iPath S&P 500 VIX Short Term Futures TM ETN (NYSE:VXX) closed at $36.92 today, up $0.73 (+2.02%). The largest ETF tied to the VIX fear index has fallen 54% year-to-date.

This article is brought to you courtesy of ZeroHedge.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)

Powered by WPeMatico