Nasdaq 100 volatility (VXN) has reached a 23-year high relative to S&P 500 volatility (VIX), signaling severe tech sector stress.
Macro & Markets ·
The Nasdaq 100 volatility index reached a ratio of 1.7 points relative to S&P 500 volatility, marking the highest disparity in 23 years and exceeding the 2008 financial crisis peak of approximately 1.6 points. With VXN at 28 points compared to VIX at 16 points, tech-focused volatility has persisted above 20 points for five consecutive months, the longest stretch since the 2022 bear market. This elevated dispersion signals pronounced stress concentrated in technology equities.