MW: CBOE volatility index up 11%, most since April 13
By Sue Chang
SAN FRANCISCO (MarketWatch) -- The CBOE Market Volatility Index VIX +10.94% jumped on Wednesday as U.S. stocks retreated on a combination of weak economic data at home and unrelenting problems in Europe. The Vix, the so-called fear gauge, climbed 11% to 23.29, the biggest rise since it surged 14% on April 13. An index of pending home sales fell for the first time in four months to 95.5 from 101.1 in March, the National Association of Realtors said. In Europe, Spain's 10-year bond yields hit a six-month high of 6.7% and the European Commission called for direct aid for troubled euro-zone banks. The Dow Jones Industrial Average DJIA -1.27% sank 1.2% to 12,426 and the S&P 500 SPX -1.39% shed 1.3% to 1,315.
