European stock 'fear gauge' surges to 2-year high
PARIS Oct 15 (Reuters) - The Euro STOXX 50 Volatility Index surged to 28.6 on Wednesday, its highest level since mid-2012 as mounting jitters over the strength of the global economy prompted investors to slash exposure to risky assets.
Europe's widely-used measure of investor risk aversion known as the VSTOXX - which is based on put and call options on Euro STOXX 50 stocks - was trading at around 19 a week ago.
The FTSEurofirst 300 index of top European shares was down 3 percent on Wednesday, at 1,255.07 points, a level not seen in 10 months, with Greek stocks among the hardest hit. (Reporting by Blaise Robinson; Editing by Sudip Kar-Gupta)
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