中国基金报·2025-11-25 16:09Group 1 - Google's efforts to challenge Nvidia's dominance in AI chips are gaining traction, leading to a reevaluation of the tech landscape and potential shifts in market leadership [2][8][9] - Nvidia's stock fell approximately 6%, marking a significant decline and a loss of $1 trillion in market value from its peak [5][7] - The market is reacting to the news that Meta plans to invest billions in Google's AI chips, pushing Google's stock closer to a $4 trillion market cap [2][4] Group 2 - Recent economic data indicates a softening U.S. economy, prompting traders to bet on a 25 basis point rate cut by the Federal Reserve in December, with probabilities exceeding 80% [11][12] - The Producer Price Index (PPI) data showed a 0.3% increase, aligning with expectations, but core PPI rose only 0.1%, below the anticipated 0.2% [14][15] - The ADP report highlighted a rise in layoffs, with private sector job losses averaging about 13,500 per week, contributing to the market's increased confidence in potential rate cuts [16]