“A closely-watched index that measures market volatility is on the rise, suggesting fear is gripping markets and a selloff is brewing, said Steven Brice, chief investment strategist at Standard Chartered Wealth Management Group.
The Chicago Board Options Exchange’s Volatility Index (VIX) has risen more than 20 percent from Aug. 17, closing on Tuesday at 16.35.
“Historically, when you get the VIX at these levels there is usually a pull-back of around 10 to 15 percent (in stock markets),” Brice told CNBC, adding the selloff may not be as intense as in the past.”
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