Many investors fear that the recent volatility in markets is here to stay. The VIX, known as Wall Street’s “fear gauge,” jumped almost 30% on Monday, on track for its biggest one-day

Many investors fear that the recent volatility in markets is here to stay.

The Cboe Volatility Index, or VIX, jumped almost 30% on Monday, on track for its biggest one-day advance since October, when concerns about the U.S. economy spurred stock selling.  The VIX, known as Wall Street’s “fear gauge,” tracks expected volatility over the next month, based on options on the S&P 500. It tends to rise when stocks are falling and is one of several measures showing that heightened jitters are creeping through markets, with investors...