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IPFS News Link • Stock Market

"More Violent, More Persistent": Market Fear Worse Now Than In 2008, Man Who Inspired VIX

• https://www.zerohedge.com, Tyler Durden

Dan Galai, a professor at the Hebrew University of Jerusalem told Bloomberg:

 "The level of uncertainty is even beyond what we saw in 2008 immediately after Lehman Brothers collapsed."

Galai continued: 

"If you look at 2008, it spiked and then within a day or two, it was going down very fast. Here, it's been steadily going up instead of going down. It's more violent, and it's more persistent."

The VIX is an indicator of expected near-term swings in the S&P 500 and has closed above 45 for four days in a row, which is the longest streak of this kind since 2009. It closed on Friday at 63, despite stocks spiking during the last half hour of trading. The VIX spiked up to 76 on Thursday, as stocks experienced the largest one day drop since October 1987.


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