AI dreams, Silicon Valley persists, while Wall Street hesitates.
"Follow the money" on Wall Street believes that AI technology has not yet reached the expected level of practicality, investing too much not only fails to recover costs, but also easily triggers a bubble. However, technology giants in the midst of the AI whirlpool are still frantically investing money, aiming for a future.
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Technology stocks encountered a "Black Wednesday", USA's "hard landing" should not be ignored!
Some popular recession indicators are continuously alarming, and the yield curve has been inverted for two years, releasing recession signals of unemployment rate. The market is paying attention to whether the second quarter GDP to be released on Thursday will trigger a red light warning.
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S&P NASDAQ recorded its deepest decline in a year and a half, with VIX soaring 22%. Tesla and chip stocks suffered heavy losses, and short-term US bonds rose.
Technology giants' poor financial reports triggered panic selling, with the S&P 500 large cap falling by 2.3%, breaking below the 50-day moving average for the first time since May 3 and ending the longest record of not falling by more than 2% in a single day since 2007. It matched the largest drop since the end of 2022 with the Nasdaq falling by 3.6%, the Dow Jones Industrial Average falling by 500 points, small cap stock index falling by 2.1%, chip stock index falling by 5.4%, and Chinese concept stock index falling by nearly 2%. Tesla fell by 12%, the largest drop since September 2020, and Google fell by 5%, the worst performance in six months. The cooling of AI fever led to a market cap evaporation of 1 trillion dollars for Nasdaq 100. Nvidia and Broadcom fell by about 7%, while the "panic index" VIX hit a 3-month high. The former Fed "three-hand" calls for interest rate cuts next week, and the yield curve of U.S. Treasury bonds is trending steeply, with the two-year yield falling 8 basis points to its lo
Volkswagen teams up with Xiaopeng to accelerate the counterattack.
Cross the threshold.
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