Bit panic, what to buy?

Geez. I feel it's been a rough ride with the U.S. leading the downturn. Just got hit with some grim job and unemployment figures last week, and now everyone's buzzing about a potential recession.

And tech stocks...only Apple managed a tiny climb, while the others are sliding, Nvidia in particular took a tumble in after-hours.
But the $CBOE Volatility S&P 500 Index (.VIX.US)$ is good as hell. Shot up over 27% on Friday and went past 40 at one point.

I'm really confused and a bit scared actually. Should I just watch until it gets better or should I try to buy some to hedge the risks? It seems that every jumping stock and index is a good dip buy. But emmmmmm... I'm really not sure. What do you guys recommend?

I saw they post VIX a lot but it seems too risky. Maybe ETF? Do you guys think mentions in this one is good? Like $ProShares Ultra VIX Short-Term Futures ETF (UVXY.US)$, $ProShares VIX Short-Term Futures ETF (VIXY.US)$? Or the US treasuries or defensive stocks in this one?
$ProShares Ultra VIX Short-Term Futures ETF (UVXY.US)$