美股前瞻02.06：就业疲软引发AI恐慌蔓延，抛售广度显著扩大

Market Overview - The recent report indicates that the U.S. private sector added only 22,000 jobs in January, significantly below market expectations, while initial jobless claims rose to 231,000, exceeding both market forecasts and previous values, indicating a cooling labor market [1] - Job vacancies in December fell to the lowest level since 2020, and the number of layoffs reached the highest level for January since the severe recession in 2009, contributing to a pessimistic market sentiment [1] - The Nasdaq experienced its worst three-day sell-off since April of the previous year, with the S&P 500 seeing declines in 318 of its stocks, reflecting a broad market sell-off [1] Core Insights - The report analyzes the recent market downturn, attributing it to the lack of significant inflation despite prolonged tariff impacts, which supports the Federal Reserve's decision to lower interest rates [2] - The optimistic narrative surrounding the economic foundation and the rise of AI infrastructure has shifted due to frequent negative events, leading to concerns about the potential disruption of traditional industries and the value of hardware [2] - The report outlines three key viewpoints regarding the current state of the U.S. stock market: 1. The long-term trend of AI may continue, but it has entered a phase of elimination, necessitating attention to the intensifying competition [2] 2. Economic resilience is expected to support corporate profits, with a focus on how AI productivity will impact economic structure [2] 3. The Federal Reserve is likely to continue lowering interest rates, with attention on the monetary policy trajectory under the hawkish nomination of Walsh [2]