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Nasdaq 100 Plunges 1,000 Points Overnight on June 25 as S&P 500 Wipes Out $1 Trillion in Market Cap

GateNews
NAS1001.20%
US5000.79%
According to BlockBeats, on the evening of June 25, U.S. stock markets opened higher but turned sharply negative, with the Nasdaq 100 falling 1,000 points in 27 minutes and the S&P 500 wiping out approximately $1 trillion in market value as sentiment shifted from +1% to -3% post-opening. The decline was triggered by U.S. PCE inflation rising to 4.1%, the highest level since April 2023, combined with Apple's announcement of price increases of up to 25% on Mac and iPad products due to soaring AI chip costs, causing Apple shares to plunge nearly 6% and erasing $220 billion in market cap. The Kobeissi Letter attributed the accelerated volatility to widespread high-leverage ETFs, AI uncertainty, and substantial cryptocurrency liquidations, forecasting continued market volatility ahead.
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