Market Extra: Wall Street’s ‘fear index’ jumps the most in about 5 months as Trump spooks market

A popular measure of Wall Street fear jumped to its highest level in more than four months on Monday, as the equity market retreated amid concern over President Donald Trump’s controversial executive order aimed at tightening U.S. immigration rules.

The CBOE Volatility Index VIX, +16.26% which measures Wall Street expectations for large swings in the S&P 500 SPX, -0.94% climbed the most, up about 18%, to 12.52, marking the sharpest jump for the gauge of market anxiety since Sept. 9, according to FactSet data.

The surge in the VIX takes it over 12, which is still relatively low for the metric, with levels of 20 typically considered the clearest sign that fear has gripped the market, while a reading of 12 signals relative complacency.

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