$SNDK Sharp selloff: U.S. chip stocks open higher, then fall🔥
Before the market opened, Xingjie said U.S. stocks were very likely to open higher and then fall tonight, because crude oil had surged again, suggesting the negotiations might not be going smoothly. But later, crude oil pulled back and fell, so I thought the market would probably hold up tonight. Xingjie wasn't optimistic, but didn't expect such a plunge either.
The only explanation now is either that too many people are bullish, triggering a panic sell-off, and some positions need to be shaken out before a rally can be considered,