SP500 down 8% from all time highs now. these air pockets are the weird part. The market just falls into potholes every now and then, whoosh. Probably it's ETFs at play - huge ETF trades throwing the market around.
VIX not high enough yet to call a short term bottom.
But remember that the average year has a 14% drop in it somewhere. This sh&t is normal and healthy. But it hurts seeing money evaporate, that's for sure.