XIV, a security which tracks the inverse of the VIX (CBOE Volatility Index of the U.S. Stock Market) was down 80% in after-hours trading yesterday, February 5th, 2018, wiping out nearly 5 years of gains.
How XIV works: When volatility on the stock market goes up, XIV's price goes down. Yesterday saw massive volatility in the form of the DOW crashing hard, so XIV went down.
CNBC Article about XIV's crash: https://www.cnbc.com/2018/02/05/xiv-exchange-traded-security-linked-to-volatility-plummets-80-percent.html
Explanation of XIV: https://www.cnbc.com/2018/02/05/xiv-exchange-traded-security-linked-to-volatility-plummets-80-percent.html
