Is there still a Santa Claus rally? Understand in one article why the US stock market suddenly dropped on Friday.

Large Technology stocks are leading the decline, with Tesla once dropping over 6%, and the sell-off in QITABANKUAI is also accelerating. Aside from technical factors like profit-taking, the 10-year US Treasury yield is hovering at a seven-month high, intensifying the downward pressure on the stock market. Goldman Sachs states that by the end of the year, USA pensions will sell $21 billion in US stocks, and CTAs will sell an additional $4 billion, resulting in significant selling pressure.

wallstreetcn10:14

U.S. stock market closing | Rising U.S. Treasury yields pressured U.S. stocks, with both the S&P 500 and Nasdaq falling over 1% overnight, but seeing slight gains over the week; Tesla dropped nearly 5%, leading the decline among the seven tech giants.

U.S. Treasury yields rose, putting pressure on U.S. stocks, with the Dow Jones dropping more than 560 points at its lowest, and the Nasdaq, Nasdaq 100, Small Cap, chip, and the China concept index all falling over 2% during intraday trading. However, the Dow Jones halted a three-week decline, ending with a weekly increase of 0.4%, the S&P 500 rose 0.7% for the week, and the Nasdaq gained 0.8% for the week.

wallstreetcn10:00

U.S. stocks in the early market | The Nasdaq fell over 2%! The fear index VIX surged 23%; Growth Tech stocks fell broadly, with Tesla down nearly 5%, NVIDIA and Netflix down 3%; Drone Concept stocks had mixed results, with SES still up over 40%.

Cryptos concept stocks broadly declined, with Bitcoin approaching the $95,000 mark, and Coinbase falling over 3%; Kingsoft Cloud's US stock reached a nearly three-year high, and Xiaomi is working on building a GPU cluster with ten thousand cards, heavily investing in AI large models.

Global market broadcastDec 27 23:35

U.S. stock market preview | The small-cap bull market continues! The Drone Concept stock SES is up nearly 60% in pre-market trading, while the Chinese concept stock Kingsoft Cloud is up 16% in pre-market.

Netflix's Christmas NFL live broadcast was a great success, but the premiere of the new season of "Squid Game" did not perform as well as expected; the release of images by "Roaring Kitty" stimulated GameStop to rise nearly 6% overnight, but it dropped nearly 2% in pre-market trading.

Futu NewsDec 27 21:28

With Trump's inauguration and the non-farm payroll data coming in, will the market face numerous risks in January next year?

Do not let your guard down! The market will face several major events at the beginning of 2025...

Golden10 DataDec 27 20:50

Former Chairman of the Council of Economic Advisers in the USA: The Federal Reserve's interest rate cut in December is perplexing but thought-provoking.

The Federal Reserve should adopt clear MMF policy rules and explain the reasons for deviating from these rules.

Golden10 DataDec 27 19:40