US Stock Market:

Recently, the three major U.S. stock indexes all fell, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite dropping 0.36%, 0.66%, and 1.1%, respectively.
AI concept stocks performed poorly, with onsemi plummeting 18.82%, and Micron, Astera Labs, and others also seeing significant declines.
Among large-cap tech stocks, although Microsoft rose 1.14%, other companies such as Tesla and Google fell 1.11% and 1.41%, respectively.
Market panic increased, with the VIX fear index rising 8.91%.
QQQ is currently around $706.52, down about 1.35% intraday; NVDA is currently around $192.53, down about 1.96% intraday. Meanwhile, Reuters reported that Japan's AI-related memory stock Kioxia fell 12%, putting overall pressure on AI-related stocks.
The AI main theme hasn't ended, but capital is no longer blindly buying "all AI." The previously surging chips, memory, and computing power chains are now being tested by valuation and profit-taking pressure.
Going forward, it's more suitable to follow the AI spillover chain: robotics, AI hardware, data center power, liquid cooling, network equipment, edge AI, and industrial automation.
If NVDA fails to reclaim the $200 level for a long time, the secondary AI stocks will be more prone to catch-up declines.
NVDA 190—200; QQQ 700—710; whether the semiconductor index continues to drop with rising volume.#芯片股集体暴跌# #美股芯片股全线下跌# #美国龙头科技股全线下跌#
#Memory stocks collectively retreat, AI costs shift to the consumer end
$QQQ $NVDA