VIX Jumps 36.5% to 23.52 Intraday, S&P 500 Falls 2.4%

The scale of the VIX move matters more than the level: a 36.5% single-session spike signals repricing rather than routine hedging, and the semiconductor index's 9.15% plunge points to tech and chip exposure as the epicenter rather than broad macro stress. That distinction shapes who feels this most — concentrated equity and momentum-linked positioning — and it is the kind of volatility print that tends to spill into risk appetite across adjacent markets, including crypto. Whether the VIX holds near this intraday high or fades by the close is the open question.