Back on February 27th, I posted about what typically happens following a 20% and 30% VIX spike. At a high of 23.37, the VIX was recently up 29.1% from the previous day.
You can follow the links below to get some historical context:
For what it's worth, I think today has been way overdone, but that doesn't necessarily mean the worst is over. I suspect it may take several weeks to get this one out of our system.