The stock market’s "fear gauge" jumped Monday after Moody’s downgraded the U.S. government’s credit rating. The Cboe Volatility Index, which trades under the ticker symbol VIX, was

up 13% on Monday morning at around 19.50, according to FactSet data, at last check. That’s around the gauge’s long-run average. “While the Moody’s downgrade may cause a bit of near-term

equity market volatility, history shows it does not portend structurally higher interest rates, an imminent recession, or declining stock prices,” Nicholas Colas, co-founder of DataTrek

Research, said in a note emailed Monday.