Things are pretty scary out there. The VIX index is up close to recent highs. The news is uniformly bad. Gold is up from $750 to just over $900 in the space of a week. Yields on 3-mo. T-bills are just about zero. Very difficult to know how this will work out, but this sort of action can't go on much longer.
Update: The VIX briefly rose above 100 in the Oct. '87 stock market crash. That marked the bottom.