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Today, let's look at one of the reasons for the big sell-off in the U.S. stock market last night.
1. Part of it comes from a normal pullback after the market has been rising and forming a V shape for an entire month.
2. I personally think the main reason is due to NVIDIA stocks dragging down the index because of rumors that China will actually ban NVIDIA, after the U.S. approved the sale of AI chips H200 to about 10 Chinese tech companies, but there has been no official response from China, so the situation remains quite unclear.
Many people wonder why NVIDIA's decline would pull down the index. NVIDIA is currently one of the top-weighted stocks in the S&P 500, accounting for about 8%, and nearly 14% in the Nasdaq.
Last week, NVIDIA surged strongly, lifting both the S&P and Nasdaq indices significantly. But yesterday, NVIDIA pulled back, which also dragged the market down.
3. My personal opinion, not investment advice, is that this is just a normal pullback. We should wait for NVIDIA's earnings, which will be announced late Wednesday or early Thursday.
What are your thoughts?