By Lewis Krauskopf
NEW YORK (Reuters) – Growing volatility in U.S. stocks is driving a search for defensive assets, though investors may have fewer places to hide this time around.
Wall Street’s most closely-watched measure of investor nervousness, the Cboe Volatility Index, on Friday hit its highest in nearly seven months, as the S&P 500 slid for the week. The benchmark stock index is down 8% from late July, when it hit its high for the year, though still up 10% year-to-date.
Assets that can help investors weather the storm may be in short supply. Equity sectors such as utilities and consumer staples, popular with nervous investors when markets grow choppy, have been swept up in the S&P 500’s recent decline.
The Japanese yen stands at its lowest against the dollar in about a year. U.S. government bonds are on track for an unprecedented third straight annual loss,…
