Everyone’s talking about how badly U.S. stocks fell on Thursday and how severe the margin calls were. But looking back at history, yesterday’s drop really was nothing much—it’s the kind of decline that will barely leave a mark.
Why did it feel so brutal when the drop wasn’t that big? Because yesterday’s sell-off was extremely concentrated: tech stocks tied to AI concepts plunged, while old-economy stocks were mostly rock solid. So the Philadelphia Semiconductor Index fell sharply, while the old-economy index didn’t fall nearly as much.
This was a targeted strike against high-market-cap AI stocks—a hunt for the paper wealth of the newly rich.
#美股遭遇2020年以来最严重抛售 $SOXL
Why did it feel so brutal when the drop wasn’t that big? Because yesterday’s sell-off was extremely concentrated: tech stocks tied to AI concepts plunged, while old-economy stocks were mostly rock solid. So the Philadelphia Semiconductor Index fell sharply, while the old-economy index didn’t fall nearly as much.
This was a targeted strike against high-market-cap AI stocks—a hunt for the paper wealth of the newly rich.
#美股遭遇2020年以来最严重抛售 $SOXL
