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The CBOE Volatility Index I:VIX is jumping over 14% Wednesday morning as investors become increasingly concerned about North Korea.

The VIX, also known as the Investor Fear Gauge, tracks volatility in the stock market. It's been pretty flat this summer, with its most recent spike occurring after North Korea launched its first long-range test missile on July 4.

The Volatility Index usually tracks opposite the stock market, suggesting a spike in the Fear Gauge could coincide with some degree of equities selloff.

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