Market Overview - On February 13, 2026, a significant asset sell-off occurred in global financial markets, particularly impacting U.S. stock indices. The Dow Jones Industrial Average fell by 669.42 points (1.34%) to close at 49,451.98, while the Nasdaq Composite Index dropped 469.32 points (2.03%) to 22,597.15. The S&P 500 Index also declined by 108.71 points (1.57%) to 6,832.76 [1]. Commodity Market Impact - The sell-off extended to the commodity markets, with gold and silver experiencing substantial declines. COMEX gold futures fell by 3.08% to $4,941.4 per ounce, while COMEX silver futures plummeted by 10.62% to $75.01 per ounce [2][3]. Technology Sector Reaction - Major technology companies were severely affected, with Apple’s stock price dropping by 5%, resulting in a market value loss of over $120 billion (approximately 800 billion RMB). Other tech giants like Microsoft, Amazon, Tesla, Meta, and Nvidia also saw significant declines [3][4]. Chinese Concept Stocks - The Nasdaq Golden Dragon China Index, which includes many Chinese concept stocks, fell by 3% on the same day, indicating a collective sell-off in this sector. Over 40 Chinese concept stocks experienced substantial declines, with Tencent Music down 10.57% and Alibaba down 3.40% [3][4][6]. Employment Data Influence - The catalyst for this market turmoil was a strong U.S. employment report released on February 11, showing a non-farm payroll increase of 130,000 in January, significantly above the expected 70,000. This led to a shift in market expectations regarding Federal Reserve interest rate cuts, with the probability of a March rate cut dropping from 19.6% to 6% [5][6]. Capital Expenditure Concerns - Major tech companies announced aggressive capital expenditure plans for 2026, with Alphabet projecting $175 billion to $185 billion and Amazon estimating $200 billion, both nearly doubling their 2025 expenditures. This raised investor concerns about the return on such investments, especially as many companies reported record profits but saw stock price declines [10][11]. Market Sentiment and Volatility - The market's fear and volatility increased sharply, with the VIX index rising significantly. The sell-off was exacerbated by algorithm-driven trading, which triggered stop-loss orders and led to extreme price movements [15][16][17]. Global Market Impact - The financial turmoil that began in Wall Street quickly spread to global markets, with Asian and European stock markets opening lower in response to the U.S. declines [18].

当地时间2月13日，美国劳工统计局公布的CPI数据显示当前通胀水平较为温和，推动市场对美联储6月降息的预期升温。受此影响，贵金属价格明显走 高。截至当日收盘，美国三大股指涨跌不一，大型科技股整体承压，国际油价小幅上行。 美股收盘涨跌不一 受通胀数据影响，当地时间2月13日，美国股市表现分化。Wind数据显示，截至当日收盘，三大股指涨跌不一，道指上涨0.1%，标普500指数上涨0.05%， 纳指下跌0.22%。 美国劳工统计局当日公布的数据显示，1月CPI环比上涨0.2%、同比上涨回落至2.4%。随着通胀压力边际缓解，根据芝商所（CME）美联储观察工具，市 场对美联储6月降息的预期有所增强。 大型科技股整体承压。万得美国科技七巨头指数下跌1.31%。其中，苹果、英伟达跌超2%，Meta、谷歌母公司Alphabet-C跌逾1%，亚马逊、微软小幅下 跌，特斯拉微涨0.09%。 降息预期推动贵金属价格走高 降息预期升温叠加避险需求回升，推动贵金属价格走高。截至北京时间6:03，伦敦金现货价格涨2.41%，报5042.808美元/盎司，盘中最高报5046.261美元/ 盎司；COMEX黄金期货价格涨2.3%，报5062 ...

当地时间2月13日，美股三大指数收盘涨跌不一 。道指涨0.1%，纳指跌0.22%，标普500指数涨0.05%。 热门科技股多数下跌，英伟达、苹果跌超2%。英伟达市值一夜蒸发1004亿美元（约合人民币6936亿 元）。 谷歌、Meta、博通跌超1%。板块方面，加密货币概念、贵金属涨幅居前，Coinbase涨超16%，科尔黛伦 矿业涨超7%，泛美白银涨超6%，HUT8涨超5%，皇家黄金、金田涨超4%。博彩、邮轮板块跌幅居前， 挪威邮轮跌超7%，佩恩国民博彩跌超5%，嘉年华邮轮跌超2%。 利弗莫尔中概股龙头指数收跌0.27%，报10125.69点。成分股中，腾讯音乐涨超4%，百胜中国涨超3%； 新东方、阿里巴巴跌超2%，理想汽车、京东、爱奇艺跌超1%。 富时A50期指连续夜盘收涨0.27%，报14722点。 中东局势升温，或受地缘政治紧张局势影响，黄金、白银价格周五2月13日大幅拉升。COMEX黄金期 货收涨2.33%，报5063.8美元/盎司；COMEX白银期货收涨2.1%，报77.27美元/盎司。现货白银一度涨超 5%。 据央视新闻，当地时间2月13日，美国总统特朗普证实，美军将向中东地区派出第二个航空母舰打击 ...

昨天晚上，也就是当地时间2月12日，我熬夜盯完美股和贵金属盘面，关掉电脑的那一刻，心里只有一个念头：这市场，真的太魔幻了。 不管你是炒美股、买黄金，还是哪怕只存了点银行理财，这段时间关注市场的朋友，估计都被这波大跌惊出了一身冷汗。打开财经群，全是哀嚎：有人说自 己抄底黄金，刚买入就跌了3%，一天亏掉大半年工资；有人重仓美股科技股，一夜之间账户缩水20%，连补仓的勇气都没有；还有人一脸懵圈，明明前几 天还听人说"黄金能涨到6000美元""美股会一直涨"，怎么突然就集体翻车了？ 说实话，我从业十几年，见过不少市场波动，但像2月12日这样，美股和贵金属同步"跳水"，而且跌幅这么狠的场景，也不算常见。更关键的是，这波大跌 不是偶然，背后藏着的逻辑，关系到我们每个人的钱袋子——哪怕你不炒股、不买贵金属，也得弄明白：为什么会跌？这波下跌和我们普通人有什么关系？ 接下来该怎么避坑？ 先给大家捋一捋，当地时间2月12日这一天，到底发生了什么。咱们不玩虚的，所有数据都来自央广网、证券时报、智通财经这些权威媒体，交叉验证过， 绝对真实可信，没有任何谣言和猜测。 先说美股，当地时间2月12日开盘后，美股三大指数就开启了"下跌模式" ...

Core Viewpoint - The financial market experienced a significant sell-off, leading to a sharp decline in gold and silver prices as traders liquidated metals to cover stock market losses, indicating a "de-risking" trend in the market [1][2]. Market Dynamics - The sell-off in gold and silver was partly due to profit-taking after recent speculative buying drove prices up [1]. - The volatility in the market has been exacerbated by concerns over AI investments, leading to a flight to safety in U.S. Treasury bonds [2]. - Despite recent setbacks, several banks remain bullish on gold, with JPMorgan predicting gold prices could reach $6,000 to $6,300 per ounce by year-end [2]. Technical Analysis - Gold - Gold has broken below the short-term support level of $5,000 to $4,990, indicating a potential downward adjustment [3]. - Key resistance levels for gold are identified at $5,080 to $5,070 and $5,150 to $5,140, while support levels are at $4,880 and $4,850 to $4,840 [3]. Technical Analysis - Silver - Silver is currently in a wide-ranging oscillation phase, with indications of a potential shift from a bullish to a bearish trend [4]. - The recent sharp decline in silver prices, dropping $10 and breaking key support levels, suggests a cautious approach to long positions, with resistance levels at $79 to $80 and $85 to $86 [4].

【环球网财经综合报道】据彭博社等外媒报道，受全球金融市场突发波动影响，国际贵金属价格出现显著回调，交易 员抛售贵金属以补充流动性、弥补股市损失。与此同时，市场聚焦美国即将发布的通胀数据，多家国际机构对黄金中 长期走势维持乐观预期。 MKS PAMP SA分析师Nicky Shiels表示，市场波动速度超出预期，即便黄金等传统避险资产，在市场极度紧张时也会 被投资者抛售以换取流动性。 盛宝银行大宗商品策略师称，黄金与白银走势高度依赖市场情绪与交易动能，在市场剧烈波动阶段面临较大压力。此 外，周四金银部分抛售来自前期大涨后的获利回吐，此前投机性买盘推动价格快速上行，积累了一定回调压力。 当前，华尔街交易员密切关注即将公布的美国核心消费者价格指数，以此研判美联储货币政策走向。市场普遍认为， 较低的借贷成本对无息贵金属形成支撑。 尽管短期出现剧烈调整，多家国际银行仍预计黄金将重回上涨趋势，认为支撑本轮金价上行的核心因素未发生改变， 包括地缘政治局势、市场对相关政策与资产配置的判断等。其中，摩根大通私人银行预计年底金价将达到每盎司6000 至6300美元，德意志银行、高盛集团同样维持乐观展望。 在市场避险情绪与流动性需 ...

Market Overview - The international financial market experienced a widespread decline, with gold, silver, oil, US stocks, the dollar, and Bitcoin all showing weakness, particularly COMEX silver futures which fell by 10.62% [1] - The overall market trends indicate a tightening monetary policy from the Federal Reserve amidst a positive US economic outlook, which may alter trading logic by 2025 [1][3] - The pricing of dollar-denominated assets is currently volatile due to the Federal Reserve's indecision, leading to a potential shift of assets into European safe havens [1][3] Precious Metals - Gold futures dropped by 3.08% and silver futures by 10.62%, with the decline attributed to normal technical developments rather than a change in core reasons [6] - The market is witnessing a significant divergence between supply and demand for silver, particularly in key industries like photovoltaics and electronics, which has led to a warning from the International Silver Institute [6] - The current trading environment for gold and silver is characterized by a lack of liquidity and a potential shift to a second platform, indicating a consolidation of positions [6] US Stock Market - The US stock market saw significant declines, particularly in technology stocks, with the Dow Jones falling by 1.34%, the S&P 500 by 1.57%, and the Nasdaq by 2.03% [4] - Concerns over the impact of artificial intelligence on job markets and economic growth have led to increased selling pressure, exacerbated by tightening liquidity expectations [4] Bitcoin and Cryptocurrency - Bitcoin fell by 3%, dropping below $66,000, marking a nearly 48% decline from its historical high in October 2025, driven by regulatory pressures and a collapse of its narrative as a safe-haven asset [8] - The outflow from cryptocurrency ETFs has reached nearly $4 billion over the past three months, contributing to downward pressure on Bitcoin prices [8] - Regulatory actions in China and the US have intensified, further constraining the cryptocurrency market and accelerating capital withdrawal [8] Asset Correlation and Market Dynamics - The traditional hedging relationships between different asset classes have broken down, with all core assets experiencing simultaneous declines due to tightening liquidity and extreme panic [11] - The correlation between Bitcoin and US tech stocks has risen to 0.8, indicating that Bitcoin is now viewed as a high-risk asset, moving in tandem with the stock market [11] - The current market environment is characterized by a panic selling trend, driven by multiple uncertainties including AI impacts, economic recovery challenges, and regulatory tightening [12]

Core Viewpoint - The U.S. stock market experienced a significant sell-off, driven by concerns over the disruptive impact of AI, leading to declines across major indices and sectors [2][3][6]. Market Performance - On February 12, the Dow Jones Industrial Average fell by 669 points (1.34%), the S&P 500 dropped by 1.57%, and the Nasdaq Composite decreased by 2.03% [3][4]. - Major tech stocks suffered losses, with Apple down 5%, erasing its gains for the year, and other tech giants like Amazon, Meta, and Tesla also experiencing declines [4][5]. Sector Impact - The financial sector faced substantial declines, with Morgan Stanley dropping over 6% at one point and closing down 4.88%, while Citigroup and Goldman Sachs also saw significant losses [4][5]. - The real estate sector was affected by fears of rising unemployment impacting office space demand, leading to a drop of over 15% for CBRE at one point [5]. - Trucking and logistics stocks were heavily impacted, with the Russell 3000 trucking index falling by 7% and companies like C.H. Robinson experiencing a drop of over 20% [5]. Commodity Market Reaction - Precious metals, including gold and silver, saw sharp declines, with gold dropping over 4% and silver falling by more than 11% at one point [2][6]. - Analysts noted that the sell-off in metals was likely driven by a need for liquidity, as investors exited positions in commodities [7]. Investor Sentiment - Market analysts indicated that the initial driver of stock price increases, namely AI, has now become a source of concern, leading to heightened investor anxiety [6]. - Despite the recent downturn, some analysts remain optimistic about gold's long-term prospects, citing ongoing geopolitical tensions and a shift from traditional assets [7].

美股突然遭遇猛烈抛售。 隔夜美股市场，三大指数全线大跌，道指一度大跌超700点，纳指大跌超2%，大型科技股集体重挫， VIX恐慌指数大幅飙涨超18%。有分析指出，市场对AI（人工智能）颠覆性冲击波的担忧情绪持续发 酵，金融、房地产、卡车运输和相关物流股全线暴跌。 与此同时，黄金、白银价格也大幅跳水，现货黄金一度大跌超4%，现货白银一度暴跌超11%。有业内 人士表示，此次大跌更像是一次风险撤离（risk-off）行情。在极端市场压力下，即便是黄金等避险资产 也会被急需流动性的投资者抛售。 美股全线大跌 美东时间2月12日，市场对AI颠覆性的担忧持续发酵，美股三大指数全线重挫，截至收盘，道指大跌 669点，跌幅达1.34%；标普500指数大跌1.57%，纳指大跌2.03%。 | 道琼斯工业 | 纳斯达克指数 | 标普500 | | --- | --- | --- | | 49451.98 | 22597.15 | 6832.76 | | -669.42 -1.34% | -469.32 -2.03% | -108.71 -1.57% | | 美国科技七巨头 | 中概科技龙头 | 中国金龙 | | 62418.56 ...

【环球时报记者 倪浩 环球时报驻新加坡特约记者 辛斌】在美国科技类股票及金银等金属资产价格剧烈 震荡之际，亚洲股市正吸引全球投资者涌入。彭博社报道称，在又一个可能成为"市场大年"的背景下， 亚洲股市表现持续超越欧美市场。海外投资者对美元资产持续"祛魅"，资金不断流入由人工智能及经济 基本面支撑的亚洲股市，或助推亚洲市场在2026年再迎投资"大年"。 亚洲市场表现强势 彭博社称，衡量亚洲市场的指数延续2025年的强劲走势，今年1月上涨7.5%，创下2023年以来最大月度 涨幅。周三收盘后，亚洲股市延续涨势，再创历史新高，助力主要股指跑赢标普500指数和欧洲斯托克 600指数。 与此同时，美国降息预期推迟，人工智能领域不确定性加大，投资者对美国科技股、贵金属及加密货币 的信心正逐步减弱。 去年春天，华尔街流行"减持美国"，如今的热门交易是买入全球其他市场。美国《华尔街日报》报道 称，2026年迄今，包括欧洲斯托克600指数、韩国综合指数和MSCI新兴市场指数在内的若干全球性指数 表现，均已领先美国主要基准指数。在多年大举押注美国大型公司后，投资者正将更多资金转入国际市 场，押注美国对世界其他地区的巨大领先优势将有 ...