Posted by: youngragingbull | January 2, 2013

CBOE Volatility Index falls 14% as stocks surge

The CBOE Volatility Index dropped 14% on Wednesday as stocks rallied on the heels of a fiscal-cliff deal in Washington.

The move down comes after the gauge of investor uncertainty touched a five-month high late last week as uncertainty over the fate of the U.S. tax and spending package known as the fiscal cliff loomed.

In the equities market, the Dow Jones Industrial Average rallied 270 points, with all 30 components moving higher.

Source: MW

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