The VIX Spikes Above 20

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“SAN FRANCISCO (MarketWatch) — The CBOE Market Volatility Index VIX +9.20% rose Tuesday as stocks were battered by poor economic data that underscored the fragility of the U.S. economic recovery as well as revived worries about Europe. The Vix, The so-called fear gauge rose over 8% to 20.40. It last closed above 20 on March 6 when it ended at 20.87. The National Federation of Independent Business small-business optimism index fell to 92.5 in March from 94.3 in February, after six months of gains. A steady rise in Spanish and Italian government bond yields also weighed on sentiment, highlighting concerns that Europe’s debt crisis remains unresolved. The Dow Jones Industrial Average DJIA -1.34% slid 1.2% to 12,776 and the S&P 500 SPX -1.41% fell 1.3% to 1,364. “