STOCKS | Tech Rally Cools as Nasdaq 100-S&P 500 Volatility Gap Hits Highest Since 2008

Tech stocks have recently slowed, and traders’ confidence in the outlook has weakened as volatility measures diverged sharply. According to Jin10, CNBC reported that the volatility gap between the Nasdaq 100 and the S&P 500 has widened to its highest level since the 2008 financial crisis. The report attributed the move mainly to a clear increase in investors’ willingness to buy Nasdaq put options, signaling rising concern about a potential pullback in tech stocks, particularly in the AI segment. On Thursday, the semiconductor ETF SMH fell more than 5%, further reflecting fading momentum in previously popular tech names. The report added that while enthusiasm for bullish options has cooled, it remains at a relatively high level. Analysts said summer markets are typically calmer, but tech-stock volatility is still expected to remain higher than the broader market.