The largest volatility gap since 2008 shows signs of cooling down in the technology bull market

On July 3, according to CNBC, the recent rally in technology stocks has slowed down, and traders 'confidence in the market outlook has been shaken. The volatility gap between the Nasdaq 100 and the S & P 500 has widened to its highest level since the 2008 financial crisis. The main reason is that investors 'willingness to buy Nasdaq put options has increased significantly, indicating that concerns about a potential correction in technology stocks, especially the AI sector, have increased. On Thursday, the semiconductor ETF (SMH) fell more than 5%, further reflecting the weakening momentum of popular technology stocks in the early period. Despite this, although the enthusiasm for call options in the market has declined somewhat, it is still at a high level. Analysts believe that the market is usually calm in summer, but the volatility of technology stocks is still expected to be higher than the broader market.