A measure of Wall Street volatility on Monday rose sharply, hitting its highest level since around the time of President Donald Trump’s stunning election victory November of 2016. The CBOE Volatility Index was up 22% at 21.04, its loftiest level since Nov. 4, 2016, according to FactSet data. The VIX uses bullish and bearish option bets on the S&P 500 index to reflect expected volatility over the coming 30 days, and it typically rises as stocks fall. A reading above 20 exceeds that of the volatility gauge’s historic average, and may indicate a more bearish outlook for equities. The spike in the VIX on Monday comes as the S&P 500 index was hitting its nadir, falling more than 5% since a peak on Jan. 26, while the Dow Jones Industrial Average was off more than 460 points, or 1.8%, at 25,098. The Nasdaq Composite Index was off 1.1% at 7,165, as technology shares also came under pressure.
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