今夜，暴跌！

Market Overview - The U.S. stock market experienced significant declines, with the Nasdaq Composite Index dropping nearly 2% at one point, and closing down approximately 1% [1][2] - The Dow Jones Industrial Average approached flat, while the S&P 500 Index fell by 0.7% [1] Technology Sector Performance - The technology sector faced intensified selling pressure, marking the most severe losses for investors since April of this year [2] - Major tech companies saw widespread declines, with Nvidia, AMD, and Broadcom each falling over 2%, and Intel dropping by 7% [2][3] - The Philadelphia Semiconductor Index has seen a cumulative decline of nearly 5% over two consecutive days [2] Investor Sentiment and Market Dynamics - Investors are reacting to high valuation levels in the market and concerns that the Federal Reserve may not meet earlier expectations for easing monetary policy [2] - Profit-taking among investors in high-valuation tech stocks has raised concerns about the long-term performance of AI-related investments [2] - Analysts are monitoring whether the current market pullback is a short-term fluctuation or indicative of deeper risks [5] Upcoming Events and Economic Indicators - Investors are awaiting comments from Federal Reserve Chair Jerome Powell at the Jackson Hole conference, which could influence future interest rate paths [5] - The market is currently pricing in an 85% probability of a rate cut at the Fed's September meeting, according to CME's FedWatch tool [5] - The Treasury Department plans to auction $16 billion in 20-year bonds, which will also be closely watched by the market [5]