VIX Jumps Most Since January on Greece Downgrade; VStoxx Gains - Bloomberg.com

VIX Jumps Most Since January on Greece Downgrade; VStoxx Gains - Bloomberg.com: "The VIX, as the Chicago Board Options Exchange Volatility Index is known, surged 21 percent to 21.19 at 12:40 p.m. New York time. The index measures the cost of using options as insurance against declines in the Standard & Poor’s 500 Index, which tumbled 1.9 percent. Europe’s VStoxx Index, a gauge of options on the Dow Jones Euro Stoxx 50 Index, climbed 17 percent to 28.56."