⁍ Wall Street’s ‘fear gauge’ is on track for its biggest weekly jump since March.

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⁍ Investors are worried about rising U.S. and European coronavirus cases, the lack of fiscal stimulus and uncertainty about the U.S. presidential election outcome.

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– Wall Street’s “fear gauge” is on track for its biggest weekly jump since March as investors worried about rising US and European coronavirus cases, the lack of fiscal stimulus, and uncertainty about the US presidential election outcome. The Cboe Volatility Index surged on Wednesday to its highest level since June, ending at 40.28, Reuters reports. At the same time, the benchmark S&P 500 stock index fell 3.5%. The VIX had climbed on Monday amid concerns about a tightening US presidential race. With Wednesday’s jump, the index has surged nearly 13 points this week. Along with the pandemic, concerns about stalled efforts in Washington toward further fiscal stimulus measures and the outcome of Tuesday’s US presidential election have helped maintain high volatility in US stocks. The VIX is now pricing in daily moves of more than 2%. “Markets are confronting a perfect storm,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina. Some investors have been preparing for bigger market gyrations for weeks. Assets under management in exchange-traded products that investors use to guard against a drop in US stocks have steadily grown since mid-September.