We can see from the volume in the borrowing actions , borrowers tried to repay their loans.

In May 11 we saw a huge drop in the price of ETH + SUSHI while price dropped daily swap volume in Sushiswap made a peak with reaching 385M$ and 25k daily transactions.

After that daily swap volume in Sushiswap keep descending while the price of ETH and SUSHI recovered little bit until June 13 which we saw a another drop in the price ETH and SUSHI with this drop volume reached 255M$.

With the drops in the price and the volatlility in the market. Lenders tried to withdraw their fund from Sushiswap

1. How did the recent spike in market volatility affect the overall activity of sushi on Ethereum?

In the price of ETH and SUSHI we can see some huge drops and volatility starting from April 21.

We can see how correlated SUSHI and ETH from the price activity but lets see if this volatility in the price affected the activity on Sushiswap

So we can say volatility in the market affects Sushiswap positively with peaks in the days of price drops.

Conclusion :

Volatility in the market affects the activity in the Sushiswap in the days of drops with not lasting effect.