That's the biggest one-day jump in the index since November 9, according to Bloomberg TV's Linda Yueh.
The VIX is also known as the "fear index" as it is a gauge of investor sentiment.
We were watching the VIX closely late last year as concerns mounted about the Italian and Spanish governments' ability to repay their debts.
That said, the index is still way down from its highs last year, as our friend @Pawelmorski points out.
Check out the index so far today (click for larger image):
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