Selling begets selling, especially on the NASDAQ, and now the index is piercing through its 200-day moving average. I would like to see it close above this very critical support point.  Below this point and additional selling is automatic - known as climatic. 

There is also a sea of red for the S&P 500 where there is no place to hide beyond Energy names, which are higher in part to the return of geopolitical risk

I believe this is 100% emotional at this point - even if you factor in four rate hikes - the liftoff is coming  from zero. 

The VIX is higher, but nowhere near where one would imagine.