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Tension running high in VIX

Traders bid up protection on the fear gauge as US stocks fall

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The market's retreat was led by some of the bull market's biggest winners. Media companies suffered their worst rout since 2008 as Apple Inc and Walt Disney Co tumbled into corrections.

New York

SPECULATORS' appetite for protection from stock-market tempests has reached the highest in nine years.

Options predicting a rise in the Chicago Board Options Exchange Volatility Index are the most expensive since 2006 relative to those betting on a drop. With gains...

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