Huge lag spikes and long loading time

huge lag spikes and major waiting time on loading screan

This is not enough information to assist you or pinpoint a problem. Which server? What zone? What time did this happen? Have you tried any network tests to see if the issue is on the ISP network?

https://us.forums.blizzard.com/en/wow/t/using-winmtr-to-troubleshoot-lag-issues-inside-sl-dungeonsraids/868417