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Market Extra: Is this the day Wall Street’s ‘fear gauge’ hits rock bottom?

Fear is not a factor on Wall Street. That’s the message that a popular benchmark for market jitters is conveying Monday.

The so-called fear gauge, the Chicago Board Option Exchange Index’s VIX VIX, -7.85% , was on target for its lowest closing level in 24 years in Monday afternoon trade. The VIX touched 9.72, which would be its lowest finishing level since it ended the day at 9.70 on Dec. 27, 1993, according to FactSet data. The record low for the VIX is Dec. 22 ,1993, when it reached 9.31. By comparison, the VIX’s historical average is 20.

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