U.S. stock volatility index hits highest level since 2020 as recession concerns intensify

According to PANews, the VIX index, an indicator of U.S. stock volatility, rose by 79% at one point, the biggest increase since February 2018, and hit its highest intraday level in four years, as concerns about a U.S. recession intensified and global stock markets fell further.

The VIX index broke through the 40 mark early Monday and is currently at 37, the highest level since October 2020. S&P 500 futures fell as much as 3.3% before narrowing their losses to 2.3%, suggesting the index is set to fall for a third consecutive day.