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Opinion: U.S. stocks' sudden plunge without warning may be triggered by high-leverage ETFs and AI uncertainty.
BlockBeats News, June 25—tonight U.S. stocks opened higher but then turned lower. With no major news, the Nasdaq 100 fell by 1,000 points within 27 minutes. The S&P 500 erased a market cap of 1 trillion dollars, quickly reversing from +1% to -3% after the open.
Looking back at pre-market information, U.S. PCE inflation rose to 4.1% (the highest since April 2023). Combined with Apple announcing that prices for the Mac and iPad will rise by up to 25% due to a surge in AI chip costs, Apple’s stock instantly dropped by nearly 6% and wiped out 220 billion dollars in market cap, sparking panic selling. However, these pieces of news do not seem sufficient to trigger such a rapid drop in the market.
The Kobeissi Letter believes that the main reasons for the increase in volatility are the widespread use of high-leverage ETFs in the market, uncertainty around AI, and massive crypto liquidations. It expects market volatility to continue.