The VIX volatility index which tracks volatility in the S&P 500 experienced one of the biggest two-day moves higher, rising 45.34% alone yesterday as markets reopened the week to chaos. Stocks were consumed by the losses that began during the Asian session with the Chinese Shanghai Composite plunging over 8% with European equity benchmarks plunging in excess of 4%. US equity indices closed down nearly 4% after the Dow Jones, S&P 500, and Nasdaq were each halted after substantial losses at the open caused a snowball effect. Flash crashes across over 4500 stocks saw the Dow Jones Industrial Average plunge over 1100 points before moderately recovering. Nevertheless, the explosion higher in volatility is hearkening back to the last financial crisis where swings of this nature were frequent occurrences. The Shanghai Composite is already down an additional -7.51% in today’s session, raising the possibility of further losses across global equities.