科技股盘中抛售剧烈，标普500市值一度蒸发万亿美元，Palantir盘中重挫9%

Core Viewpoint - The U.S. stock market has experienced a significant sell-off, primarily driven by concerns over the Federal Reserve's hawkish stance and the high valuations of technology stocks, leading to a loss of $1 trillion in market capitalization for the S&P 500 index [1]. Group 1: Market Performance - The sell-off, led by technology stocks, has resulted in the S&P 500 index declining for four consecutive trading days, with the largest single-day drop since early August occurring on Tuesday [1]. - On Wednesday, risk aversion peaked, causing significant declines in both the S&P 500 and Nasdaq 100 indices ahead of the Federal Reserve's meeting minutes release [1]. - Nvidia's stock fell nearly 4% before the meeting minutes were published, with an intraday drop exceeding 9%, and a cumulative decline of 23.87% from its closing price on August 12 [1][3]. Group 2: Technology Sector Dynamics - Large technology stocks, which had been the main drivers of the market's rise due to strong demand for AI products and cloud services, are now becoming the leading laggards [4]. - The rapid shift in the role of technology stocks has raised concerns about concentration risk, with strategists warning that the high weight of tech stocks could lead to a broader market downturn if they continue to decline [5]. - Analysts suggest that if the technology sector does not stabilize, the only direction for investors may be to hold cash [6]. Group 3: Investor Sentiment and Market Outlook - Following a 30% increase in the U.S. stock market since April, investor fatigue is becoming apparent, with leading growth stocks significantly underperforming compared to small-cap and value stocks this month [7]. - There is a divide among investors regarding the recent market pullback, with some viewing it as a buying opportunity, while others believe that profit-taking is prioritized due to high market valuations [8][9]. - Some analysts argue that the current market has "fully" priced in future positives, leaving little room for error, and any disappointing news could easily disrupt the fragile market balance [10].