The 'Fear Gauge' Went Through The Roof Today

The VIX — a measure of implied volatility of S&P 500 options commonly known as the “fear gauge” — shot up 30% today, marking the biggest daily gain since April as the stock market completed its biggest two-day slide since June.

The VIX typically goes up when the stock market goes down. Today’s action may suggest a near-term bottom in the stock market.

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