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

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