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Well, that was fast. Just minutes after touching its highest level of 2017, the Vix index changed course and turned red after House Republicans canceled a vote on the bill to repeal and replace Obamacare.

The index that tracks options to determine expected S&P 500 volatility over the next month had climbed as high as 14.16 earlier, but then pulled back to as low as 12.77 in late-afternoon trading.

More on the earlier move here.

Copyright The Financial Times Limited 2018. All rights reserved.

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