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Also known as the Chicago Board Options Exchange's volatility index, or VIX, jumped sharply this morning to levels seen several weeks back when stocks were also coming down hard. From Marketbeat:
Market-watchers enjoy following the VIX because it's supposed to be a forward-looking indicator. But today, a lot of investors appear to be reacting to the day's bad news. Take your pick: Weak numbers in China, weak reading on consumer confidence and maybe even some late reactions to financial reform's earnings fallout for banks.
Meanwhile, stocks show little sign of gaining ground. Dow is off about 270 points and is well under the 10,000 mark.
Chart: Dow Jones Industrial Average (NYT)
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.