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Wall Street’s ‘fear index’ surges by most in 10 months as Dow and S&P 500 set to tumble on COVID variant worries

Wall Street's 'fear index' surges by most in 10 months as Dow and S&P 500 set to tumble on COVID variant worries

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A measure of implied volatility on Wall Street on Black Friday touched the highest level since around September as futures for the Dow Jones Industrial Average [: DJIA] YMZ21, -2.17% and the S&P 500 index SPX, +0.23% ESZ21, -1.60% , looked set to tumble amid concerns of a fast-spreading strain of COVID-19, which was identified in South Africa, Hong Kong and Israel and was already leading to travel restrictions. The CBOE Volatility Index VIX, +38.27% jumped by about 40% Friday morning, trading around 25.4, which would mark the highest level for the index since around Sept.

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