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Market Extra: Wall Street’s ‘fear gauge’ jumps the most in 3 weeks on Deutsche Bank worry

Fear on Wall Street jumped.

The commonly used gauge of market concerns, the CBOE Volatility Index VIX, +13.16% rose about 15% at 14.28 on Thursday. At its peak on the day, the indicator was on track for its largest daily rise since Sept. 9, according to FactSet data, before pulling back somewhat later in the session.

The VIX—and products based on the index—are used by traders to track and bet on the prospect of gyrations in the S&P 500. Thursday’s moves appeared to be precipitated by elevated concerns about Deutsche Bank after a Bloomberg News report said a group of hedge funds decreased their exposure to the largest German bank.

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