Answer: Fear Index
Notes: India VIX, a volatility gauge, surged 15% to 16.58, prompting caution against leveraged positions. It measures market volatility expectation, dubbed the "fear index". Volatility indicates stock price or index value change rate. A spike suggests future volatility. Created by Chicago Board Options Exchange (CBOE) in 1993, based on S&P 500, it's a global volatility gauge. India VIX, launched in 2010, aligns with Indian markets. It's calculated by NSE and correlates negatively with Nifty; when VIX falls, Nifty rises.
