Melvin Baker – AHN Reporter

Chicago, IL (AHN) – A gauge of market uncertainty rose more than 20 percent on Friday to levels not seen since last July.

The Volatility Index, or VIX, of the Chicago Board Options Exchange was up 27 percent to 31.49 about 30 minutes before the end of trading on the New York exchanges. The index measures market volatility, and often rises as stocks decline.

The gauge fell 11 percent on Thursday as the Standard and Poor’s Index rose more than 2 percent and the Dow Jones Industrial Average soared 200 points.

The VIX dipped to its lowest point of the year on Oct. 22, when it closed at 20.69. It hit a record of 80.86 in November following the collapse of Lehman Brothers Holdings.

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