The Vix Hit Its Highest Level Since the Financial Crisis. That’s a Lot of Fear.

Photograph by Eitan Abramovich/AFP via Getty Images

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The market’s volatile stretch is continuing on Monday, as stocks tumble across the board on renewed coronavirus fears, and the Vix, the market’s fear gauge, soars.

The negative economic impact of the growing outbreak is undeniable, but still highly uncertain—a recipe for panic in the market. Add a price war in global oil markets, and the rout is on. Stocks tumbled across the board after the open on Monday, into a circuit breaker that kicked in to briefly halt trading down 7%.