# VXN

Wall Street’s Fear Is No Longer Broad — It Is Concentrated in Technology
A major warning signal is flashing beneath the surface of the market.
The gap between the Nasdaq-100 volatility index (VXN) and the traditional VIX fear gauge has expanded to extreme levels, showing investors are pricing in far more uncertainty in technology stocks than in the broader market.
This is not a normal rotation.
This is a market saying:
“Risk is not everywhere. Risk is concentrated in tech.”
What the data shows
Nasdaq volatility has surged sharply while broad-market volatility has moved much less.
The VXN/VIX r