VIX Erupts 63% in a Single Session, Fifth-Largest Spike in Recent Memory

The VIX didn't just rise. It detonated. The CBOE Volatility Index ripped 63% higher in a single session as a broad selloff tore through equities, according to The Kobeissi Letter.

That surge ranks as the fifth-largest spike in the VIX's recent history, the outlet noted — a move that puts it in rare company among the market's most violent fear episodes.

The Kobeissi Letter called the jump further evidence of the emotional nature behind today's selling, framing the move as panic rather than orderly repricing.

The outlet also said it believes several large institutional players were liquidated during the session — a claim that, if accurate, would mean forced selling amplified the downside.

Forced liquidations and a rocketing VIX tend to feed each other: margin calls push funds to dump positions, which drives volatility higher still. Whether that loop explains the full extent of today's damage isn't yet clear.

What's certain is the tape: a fear gauge up 63% in one day, and a market that spent the session in full flight. Traders will be watching the next session for signs of whether the panic cools or compounds.