The market's fear gauge, the CBOE Volatility Index, spikes 25% and is closing in on a reading of...

|By:, SA News Editor

The market's fear gauge, the CBOE Volatility Index, spikes 25% and is closing in on a reading of 40. The VIX hasn't traded below 30 since S&P downgraded U.S. debt, but sat at a placid level of 14 only two months ago.