CHICAGO, Oct 24 (Reuters) - The Chicago Board Options Exchange Volatility Index .VIX, Wall Street's favorite barometer of investor fear, settled at a record high on Friday, indicating investors remain fearful heading into the weekend after U.S. stocks slid in a worldwide sell-off.
Investors cashed out of stocks as signs mounted that the global economic slowdown could be deeper than feared and the corporate profit outlook darkened.
The widely popular VIX closed at 79.13, up 16.71 percent. It had peaked at a record high of 89.53 near the open, surpassing the record set on Oct. 16, using the modern VIX methodology that goes back to 1990.
The VIX measures projected stock market volatility conveyed by Standard & Poor's 500 index .SPX option prices, and generally moves inversely to the S&P benchmark.
[via chucks_angels]
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