Vexed by Vix: post-Brexit squeeze sparks fears of losses

June 24 was a grim day for most equities investors. As the results of the UK's vote to leave the European Union began filtering in, equities traders – many working through the night on a mixture of adrenaline and energy drinks – were treated to a deepening sea of red as global markets tanked. But amid the flurry of panicked selling, equity derivatives traders were taken aback when one sell-off that everyone had expected in the event of a victory for the leave campaign failed to fully materialise