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Where will the VIX close by the end of August 2024?
2
Resolution / Starting Odds
Below 40 • 25%
40-50 • 25%
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Above 60 • 25%
Closing value of the VIX as reported by major financial news outlets like Bloomberg or Reuters
Story
VIX Surges 194% to 63, Hits 55 Today, Highest Since COVID-19
Aug 5, 2024, 12:43 PM
The Volatility Index (VIX) has experienced a dramatic surge, reaching levels not seen since major historical financial crises. As of this morning, the VIX is up 194% and has crossed the 50 mark, a level last seen during the COVID-19 pandemic. The index is currently at 63, marking a 178% increase from its close of 18.50 on Thursday. This spike is the third highest in the VIX's history, surpassed only by the Global Financial Crisis (GFC) and the COVID-19 crash. The VIX, often referred to as the 'Fear Index,' serves as a proxy for market volatility and investor anxiety. The current spike suggests significant market turmoil, with the S&P 500 down 10% from its highs. The VIX hit 55 today and is the highest since March 2020.
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