VIX Jumps 10% to 18.11 as S&P 500 Falls More Than 0.6%

A 10% single-session VIX move to just above 18 is a sentiment shift, not a regime change; the level remains well below the panic readings that accompany genuine stress. What matters is whether this is a one-day repricing tied to the S&P's decline or the start of a sustained volatility bid. Equity vol is the input most RWA and crypto desks price against, so whether it continues is the open question.