美股深夜跳水，突发急跌，投资者速看

Core Viewpoint - The market is experiencing significant volatility, driven by mixed economic data and expectations regarding Federal Reserve policy changes, particularly concerning interest rates and consumer confidence [1][2][12]. Economic Data - The Producer Price Index (PPI) for September showed a year-on-year increase of 2.7% and a month-on-month increase of 0.3%, which fell short of expectations [1]. - Retail sales increased by 0.2% month-on-month, below the anticipated 0.4%, indicating potential weaknesses in consumer spending [1]. - The consumer confidence index dropped to 88.7 in November, marking the largest decline in seven months from the previous 93.3 [1]. Market Reactions - The Nasdaq index initially fell over 10%, with Nvidia's market capitalization dropping below $4.15 trillion, reflecting investor anxiety [1]. - Bond yields slightly decreased, and gold prices briefly rose as investors sought safe-haven assets amid market turmoil [1]. - Chinese concept stocks showed mixed performance on Nasdaq, with some stocks like Hesai Technology and Pony.ai rising, while others like NIO and Alibaba fell [1]. Federal Reserve Expectations - Federal Reserve Governor Milan suggested the need for a rate cut soon, which has led to discussions among analysts about potential shifts in asset allocation strategies [1][2]. - There is a division among market participants regarding whether to bet on early rate cuts or to adopt a defensive stance while awaiting more data [2]. Company Impact - Nvidia's loss of $1 trillion in market value is significant, affecting employee compensation, research and development investments, and hiring plans [6]. - The volatility in stock prices is impacting startup companies, with founders concerned about the value of employee stock options [6]. Market Sentiment - The atmosphere in trading rooms is characterized by a focus on data and adjustments in positions rather than emotional reactions, reflecting a pragmatic approach to market fluctuations [10]. - The broader implications of market volatility reveal deeper trust issues related to corporate valuations, policy expectations, and the everyday lives of individuals [12].