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Fear gauge index fells to near 5-year low

March 13, 2012

The CBOE Market Volatility Index (VIX) fell sharply on Tuesday to near a 5-year low on intraday basis as the Dow Jones Industrial Average and the S&P 500 both successfully breached key levels.

The so-called fear gauge at one point slipped to a low of 13.99. The last time the index moved below 14 during trading was in June 2007 when the Dow was trading above 13,400 and the S&P 500 was above 1500.

The Dow then peaked a few months later to hit a record high close of 14,164.53 on Oct. 9, 2007 before beginning its multi-year decline. The blue chip index is currently trading above 13,000 while the S&P 500 is around 1380.0.

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