India Fear Gauge Tops US Counterpart on War-Induced Market Jolt

A key gauge of implied volatility for Indian equities has risen above its US counterpart for the first time in almost a year, amid growing concerns of inflation from the extending Middle East conflict.

The India NSE Volatility Index — also known as the market’s fear gauge — surpassed the Cboe Volatility Index on Monday for the first time since May. The measure is trading at its highest level since March 2022, after Russia’s invasion of Ukraine. It has almost doubled this month as the Iran war roils global markets.