The VIX, also known as Wall Street's fear index, surged 33% to exceed 20, marking a rough start to September. This spike in volatility was accompanied by widespread declines in U.S. and European stocks. Notably, Nvidia's stock dropped 9.5%, erasing nearly $300 billion in market value and dragging down other technology and chip stocks. Additionally, Bitcoin fell to $56,700, influenced by Mt. Gox's repayment moves and government sell-offs, reflecting broader market sentiment. The market selloff also saw oil prices sink below $70 and the yen surge, as traders brace for a volatile month. Bitcoin briefly hit $55K, and Bitcoin fell 2.5% along with broader market sentiment.