The Nasdaq 100 index fell 1000 points in 27 minutes, and the S&P 500 wiped out $1 trillion in market value. After opening, it changed from a 1% increase to a 3% decrease. PCE inflation in the United States rose to 4.1%, and Apple announced a price increase of up to 25% for Mac and iPad due to soaring AI chip costs. Apple's stock price fell nearly 6% and wiped out $220 billion in market value. The Kobeissi Letter believes that the widespread presence of highly leveraged ETFs, AI uncertainty, and massive cryptocurrency liquidation in the market are the main reasons for increased volatility, and it is expected that market volatility will continue.
