US stocks suffered a 'Black Wednesday': Which strategies hold promise?

The US stock market suffered a panic-driven sell-off on Wednesday, with the  $Nasdaq Composite Index(.IXIC.US)$ plunging 3.6% and the  $S&P 500 Index(.SPX.US)$ falling 2.3%, both marking the largest decline in one year and a half. Magnificent Seven suffered significant losses, with  $Tesla(TSLA.US)$falling by over 12% and  $NVIDIA(NVDA.US)$dropping nearly 7%. Even  $Russell 2000 Index(.RUT.US)$, which had performed well last week, fell by over 2%. The market was gripped by risk aversion, with the  $CBOE Volatility S&P 500 Index(.VIX.US)$ jumping nearly 23%, reaching its highest level in three months.