VIX rips more than 70% in a day, the biggest spike since 2018

Wall Street's fear gauge just went vertical. The Volatility Index, better known as the VIX, surged more than 70% on the day, according to Kobeissi Letter, putting it on track for its largest single-day gain since February 2018.

The move is about as abrupt as volatility spikes get. The VIX tracks how much turbulence traders expect in the S&P 500, so a jump of this size signals a fast, messy repricing of risk across the market.

The comparison that stings: not even March 2020 delivered a daily volatility pop like this one, per Kobeissi Letter. That stretch is the benchmark most traders reach for when they talk about panic, and it still doesn't match what just printed.

February 2018 now becomes the reference point for this spike. Traders who lived through that period know what a violent VIX reset looks like, and the current move is being measured against it in real time.

All eyes now shift to whether the jump holds through the session or fades, and how the broader market digests the swing. For now, the number on the screen is the story.