On the 10th, the shares experienced the "black Friday", the three major shares referred to the collective high-level jump, of which the Indicator and S&P 500 indices both recorded the largest single-day drop since April.

Analysts believe that the sudden tension in China-U.S. trade relations, the US federal government's "stop-down" after cuts, high-value plates reconsideration and other comprehensive factors have broken the original balance of the market.

The "April plunge" reappeared

As of the end of the day, the index fell by 3.56%, repeating the "April fall" half a year ago. The SIP 500 index fell by 2.71% "one blow back" all of the rise over the past ten days. The finger also fell by 2%. Panic emotions burned.

In terms of plates, the eleventh largest plates of the S&P 500 Index fell by ten.Technology plates and non-essential consumer goods plates dropped by 3.97% and 3.29% respectively, and essential consumer goods plates rose by 0.25%.

The market value of the seven major tech giants evaporated overnight at about $7700 billion (approximately RMB5.5 trillion). of which, Tesla dropped more than 5%, this week dropped 3.8%; Amazon dropped 4.99%, this week dropped 1.43%; NVIDIA dropped 4.89%, and the market value evaporated overnight at $227.8 billion, this week dropped 2.38%.

Multiple factors lead to the ¡°hopping¡±

Wall Street analysts believe that the large jump in the stock is linked to the following factors:

First, Sino-US trade relations have suddenly become tense.

U.S. President Trump's announcement that he will significantly increase tariffs on China goods is a major tipping point in market sentiment.

After Trump posted on Real Social, the Chicago Board Options Exchange Volatility Index, Wall Street's indicator of panic, surged about 32%, to its highest level since June.

¡°This is obviously not the news traders want to hear!¡± said Steve Sosnik, the chief strategist for Venture Securities, in a report, ¡°We¡¯re so accustomed to relatively calm, upward-tendent markets that it¡¯s shocking to see the stock market crash rapidly.¡±

Artificial intelligence and chip shares, sensitive to the move in the US-China trade relationship, fell. NVIDIA and AMD fell 4.95% and 7.78% respectively. Belde investment strategist Ross Mefield said, ¡°The escalation of tensions in the US-China relationship is a major event, which definitely left the markets out of time.¡±

Second, market sentiment and systematic panic.

Under Trump¡¯s sudden policy threats, some investors have seen a spread of selling sentiment, forming short-term liquidity tensions.

Torres, senior economist at Interactive Brokers, said, "Investors are snapping up safe-haven assets." Gold and silver, considered safe-haven assets amid the turmoil, rose 1.5% and 1.2% respectively. And as investors snapped up U.S. bonds, 10-year and 30-year Treasury yields fell.

According to data from the University of Michigan, the initial value of the consumer confidence index in October was 55, the lowest since May, indicating that the American public's concerns about inflation and job security persist. "The'wallet issues' of high prices and worsening job prospects remain at the forefront of consumers' minds." Joanne Hsu, director of consumer surveys at the University of Michigan, said. "At this time, consumers don't expect any significant improvement in these factors."

Third, the valuation pressure and the technical plate lead down.

During the past period, the market, especially the technology/artificial intelligence divisions, has increased significantly, and there is risk of valuation premium.In the face of sudden profit gap, investor risk preferences have declined rapidly, and the high valuation divisions have been rapidly adjusted.

Torres said that in recent weeks, Wall Street has been concerned about the overvaluation of artificial intelligence and technology stocks, which are more vulnerable to unexpected situations such as the "Trump Shock."

Fourth, the dual effects caused by the "shutdown" of the US government.

Effect one, the release of some key economic data is blocked, "the empty window period" leaves investors lack of timely economic guidance. There are comments that the data delay release causes investors to feel fragile. Looking forward to the future, the financial report quarter will start next week, and analysts expect the tariff war will lead to Morgan, CBS and other banks revenue weakening.

Effect two is that during the "shutdown" period of the U.S. federal government, the government no longer followed the usual practice of requiring employees to take temporary leave, but allowed a large number of "civil servants" who left their posts to leave permanently. This will not only affect the spending power of thousands of households, but also highlight political gridlock and fiscal uncertainty, shaking Wall Street's confidence in the future.

Is there a recovery risk?

All in all, the U.S. stock market is affected by multiple negative factors, and traders and long-term investors alike are struggling to judge what these factors mean for the economy and their own portfolios. JPMorgan Chase CEO Jamie Dimon warned in a recent interview that the risk of a sharp correction on Wall Street has intensified in the next six months to two years.

"I'm more concerned about that than anyone else." Dimon said that many factors bring uncertainty, including geopolitical tensions, Trump's tariff policy and fiscal spending policy, and the risk of overheating in U.S. stocks.

(Editor's email: ylq@jfdaily.com)

Original title: "The US stock market staged" Black Friday ", the Big Seven evaporated 5.5 trillion yuan, and the" Trump impact "smashed the market?" "

Column editor: Yang Li Group Text editor: Yang Li Group Source: Xinhua Agency

Source: The Liberation Daily