It never ceases to amaze me how risk-on can seem like a freight train until the day that it dies. Today might have been that day. With the VIX up 34% from 14.17 to 18.99, the VIX put itself in the 99.8%+ distribution of daily returns:
Another notable event was the all time daily peak in VXX volume traded at almost 100 Million shares:
Welcome back Europe.