According to BlockBeats, on December 28, the three major U.S. stock indexes collectively plummeted overnight, with the Nasdaq falling more than 2% during the session. As of the close, the Dow fell 0.77%, the Nasdaq fell 1.49%, and the S&P 500 fell 1.11%.
The "Seven Big Tech Companies" in the U.S. stock market all fell, with Tesla falling more than 6% at one point; chip stocks and AI concept stocks also fell across the board. This sharp drop was not driven by important economic data or news, which surprised the market.
Wall Street analysts believe that the 10-year Treasury yield has a great impact on the stock market. The higher the yield, the greater the pressure on the stock market. On Friday, the Treasury yield rose by nearly 1% to 4.629%.
According to Bank of America data, about $35 billion of funds flowed out of U.S. stocks in the past week, the highest since December 2022. Goldman Sachs estimates that U.S. pension funds will sell $21 billion in stocks.