The recent market’s chain of losses hit like a powder keg. In the evening, the US stock market dropped; the Korean market opened first and showed you a direct “straight down.” And the A-share market—no need to mention it; it just lay down like it was taking its clothes off. Today, even the consecutive-day stocks were also blown up.

Besides the fact that they’ve still run up too much, the reasons for the drop include deepseek v3, concerns about China producing lithography machines, Changxin Memory’s disruption, and worries over the mixed risk tied to Nvidia’s “circular lending.”
These concerns are reasonable, but they’ve turned into an excessive emotional outburst.