Wall Street's volatility index on Friday hit levels not seen since the stock market crash during COVID-19. The spike in fear came amid an overall rout in equities sparked by the imposition of the steepest American tariffs in over a century.

Wall Street's top 'fear gauge' jumped to a fresh eight-month high on Friday as U.S. stocks opened sharply lower after China imposed fresh tariffs on all U.S. goods in response to the Trump administration's sweeping levies.

The Cboe Volatility Index (VIX), known as Wall Street’s “fear gauge,” has risen to its highest level in nearly a year as U.S. President Donald