A big exchange-traded product tracking Wall Street’s “fear gauge” has been swinging wildly this week after Barclays said it would stop supporting the asset.
The $900m iPath Series B S&P 500 VIX Short-Term Futures Exchange-Traded Note, known as VXX, soared as much as 45% intraday on 15 March before paring its gains to close down 0.4% to $28.70. It was halted at least five times in a frenetic trading session. On 16 March, it shed 9.6% to $25.95.
