Daily Market Highlights and Trend Analysis, produced by PANews.
1. Market Observation
The current macro market is experiencing a profound confidence crisis triggered by AI, with the narrative shifting from "AI frenzy" to "AI panic." Investors are no longer focused on who will benefit but are instead worried about which industries will be disrupted and replaced. On Thursday, financial markets experienced a broad sell-off, with US stock market capitalization evaporating by $1 trillion. Cisco plummeted 12% after releasing weak profit margin guidance. The Nasdaq dropped over 2%, the S&P 500 declined 1.57%, breaking below the 50-day moving average, and the Dow Jones Industrial Average fell below 50,000 points. The seven tech giants all declined, with Apple dropping over 5%, losing approximately $202 billion in market value in a single day. Amazon's stock price, after eight consecutive days of decline, officially entered a technical bear market on Thursday, down 21.4% from its high. Industry insiders expect NVIDIA's February 25 earnings report to become an important event in the AI field.