IMO the VIX didn't spike... it went up... and currently stays around this level for at least a month, until the French election is over and Trump has settled down.
A spike is up and down... something the reporters are missing here....
Buying the market on VIX spikes can be pretty dicey. This worked great until around 2008 where it could of easily bankrupted you. I would only try this if the market is above its long term moving average of 200 days.