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2026-06-2523:28:41 Thursday
Source: AiCoin
The U.S. stock market plummeted without warning, with high-leverage ETFs, AI uncertainty, and cryptocurrency liquidations as triggers.
The Nasdaq 100 dropped 1,000 points in 27 minutes, the S&P 500 erased $1 trillion in market cap, turning from a 1% gain at the open to a 3% decline. U.S. PCE inflation rose to 4.1%, Apple announced Mac and iPad price hikes of up to 25% due to soaring AI chip costs, and Apple's stock fell nearly 6%, wiping out $220 billion in market cap. TheKobeissiLetter believes that the widespread high-leverage ETFs, AI uncertainty, and massive cryptocurrency liquidations in the market are the main reasons for the increased volatility, and it expects volatility to continue.