‘Fear index’ highest since 2020 as market panic reshapes political and policy outlook

Wall Street is reeling on Monday, with the “fear index” hitting multiyear highs and stocks plunging quickly after the markets opened. The turmoil raised speculation that the Federal Reserve might have to consider an emergency response and even led to increased chatter about an election-year recession. Stocks across the board were largely in the red. The tech-heavy Nasdaq plunged more than 1,000 points after open, the worst daily point loss in the history of the index, including intraday swings. The Dow Jones Industrial Average cratered about 1,200 points while the...