VIX Rises 30% to 35.82

The move in the VIX has been unreal on Wednesday. Traders who had been shorting volatility just got absolutely blown up. The VIX has surged better than 30% to 35.80 after closing Tuesday's session at around 27.62. The move, which is one of the largest in years, comes amid soaring Italian bond yields and a plunging euro which has dragged risk assets significantly lower across the world. At last check, the Dow had lost 360 points and was down as much as 425 earlier in the session.