Era of Calm Ends as Volatility Returns to Markets

Heard on the Street: How the Bull Market’s Greatest Trade Went Bust. The VIX was invented 25 years ago as a way to warn investors of an imminent crash, but it has since morphed into a giant casino of its own. The measure uses options on the S&P 500 stock index to measure traders’ expectations for near-term market swings. ................
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