[The Largest Volatility Gap Since 2008 Signals Cooling in the Tech Bull Market] Reported by Jinse Finance on July 3, according to CNBC, the recent rally in tech stocks has slowed, and traders' confidence in the market outlook has wavered. The volatility gap between the Nasdaq 100 Index and the S&P 500 Index has widened to its highest level since the 2008 financial crisis. The primary reason is a significant increase in investors' willingness to purchase Nasdaq put options, reflecting rising concerns about a potential pullback in tech stocks, particularly in the AI sector. On Thursday, the Semiconductor ETF (SMH) fell more than 5%, further indicating a weakening momentum in previously popular tech stocks. Nevertheless, while enthusiasm for bullish options in the market has slightly declined, it remains at relatively high levels. Analysts believe that the summer market is typically calmer, but the volatility of tech stocks is expected to remain higher than the broader market.