Technology stocks are experiencing one of the most volatile periods in their history. The ratio of the Nasdaq 100 Volatility Index (VXN) to the S&P 500 Volatility Index (VIX) has reached 1.7, the highest level in 23 years. This marks the first time since 2018 that this ratio has crossed the 1.5 threshold. For comparison, during the 2008 financial crisis, the peak of this indicator was approximately 1.6. Currently, the VXN stands at 28 while the VIX is at 16, roughly 43 percent lower. The VXN has remained above 20 for five consecutive months, the longest such streak since the 2022 bear market. These figures indicate that markets are pricing in significant volatility for technology stocks.