NEW YORK (Reuters) - Wall Street’s “fear gauge” is on track for its biggest weekly jump since March as investors worried about rising U.S. and European coronavirus cases, the lack of fiscal stimulus and uncertainty about the U.S. presidential election outcome.The Cboe Volatility Index .VIX surged on Wednesday to its highest level since June, ending at 40.28. At the same time, the benchmark S&P 500 .SPX stock index fell 3.5%. The VIX had climbed on Monday amid concerns about a tightening U.S. presidential race. With Wednesday’s jump, the index has surged nearly 13 points this week. Along with the pandemic, concerns about stalled efforts in Washington toward further fiscal stimulus measures and the outcome of Tuesday’s U.S. presidential election have helped maintain high volatility in U.S. stocks. The VIX is now pricing in daily moves of more than 2%.