Another debt ceiling debacle could sink the economy
Last year's Congressional debt standoff hurt consumer confidence more than the collapse of Lehman Brothers, Betsey Johnson and Justin Wolfers write. This time could be worse. Read more at Counterparties
VIX fear gauge jumps 15 percent as stocks tumble
NEW YORK |
NEW YORK (Reuters) - The CBOE Volatility Index .VIX jumped more than 15 percent on Monday as U.S. stocks tumbled on renewed concerns about the potential strength of the economic recovery.
The widely-watched VIX, considered to be Wall Street's fear gauge, often moves inversely to the broad S&P 500 index .SPX. Major U.S. stock market indexes were down more than 2 percent shortly after the opening bell.
(Reporting by Leah Schnurr; Editing by James Dalgleish)
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