US stock market major rotation — AI chip stocks crash, crypto stocks instead rise


Last night, the US stock market staged a magical drama.
The Philadelphia Semiconductor Index plunged 5.44%, with all 30 components closing lower.
SanDisk -14%, Teradyne -13%, Lam Research -10%.
Memory, optical communication, and AI chips all collapsed.
The trigger? Mark Zuckerberg personally admitted: AI Agent development "did not accelerate as expected".
Meta fell nearly 5%, with capital expenditure of $125-145 billion this year, and the monetization path is unclear.
The most magical part: the Dow Jones hit an all-time high.
McDonald's +4%, Johnson & Johnson +3%, Coca-Cola +3%.
"Old economy stocks" are rising across the board.
Even more magical: crypto-themed stocks defied the trend and strengthened.
Coinbase +3%, Strategy +8%.
The AI bubble narrative is cracking, capital flees from "future" to "certainty", and crypto stocks have surprisingly become a new safe haven.
Who would have believed it six months ago?
#美股 #AI #BTC #Coinbase #Strategy
#MarketRotation
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