VIX Has Largest Percent Move In History As Goldman Notes Potential "Overshoot"

Last week was historic from a number of standpoint. Not only did the Dow Jones Industrial Average have a never before string of 300 point down moves, and the S&P 500 index posted its largest loss since the once thought infallible Long Term Capital Management team of geniuses finally found gravity in 1998. But it was the recent move in volatility, as measured by the VIX Index, that caught the eye of Goldman Sachs analysts. VIX has largest percentage move in history, up 118 percent Last week observers witnessed the largest one-week percentage change in VIX history, moving a whopping…