NEW YORK (YBH.ME) – The Dow Jones Industrial Average fell 249 points on Friday, marking six of the last seven trading sessions with swings either up or down of over 100 points for the Dow.
The VIX in 2009.
The VIX, or Volatility Index, has reached its highest point since July 8 at 30.69, high by historical standards but much lower than the 60+ it reached in January. The VIX is an index managed by the CBOE which measures implied stock market volatility. The VIX averaged 19.8 from 1990 to 2008, before exploding late last year in the wake of the world financial crisis. The higher the number the more the stock market is expected to fluctuate.
The Dow gained 199.89 the day before Friday’s freefall on surprise reports that the U.S. economy had grown 3.5% in the 3rd quarter. That was not enough to calm jitters, as investors remain spooked by the jobless rate in the United States.
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John Romano is the publisher Yes, But However!, the lead singer of the rock band The Sugarmen, a political correspondent for BBC Radio London and a and a serial web entrepreneur. Oh, and his nickname is Johnny Rome, has been for 15 years.
