隔夜美股再遭猛烈抛售，道指跌超550点！纳斯达克中国金龙指数收跌1.21%。港股三大指数低开，恒 指跌0.8%，国指跌0.72%，恒生科技指数跌1.25%。大型科技股继续低迷行情，文旅部提醒中国游客近 期避免前往日本旅游，旅游股继续下跌，香港中旅大跌超14%表现较弱，铝业股、黄金股等有色金属板 块下跌明显，小鹏汽车绩后领跌汽车股。另外，软件类股、生物医药股、建材水泥股部分活跃。(格隆 汇) ...

【导读】美股尾盘跌幅扩大，道指下跌超550点 中国基金报记者 赵刚 综合整理 美东时间11月17日周一，美股收跌，道指跌超550点，科技股领跌。英伟达将在周三盘后发布三季度业绩；巴菲特大幅抛售苹果，建仓谷 歌母公司 Alphabet，Alphabet 大涨超3%；油价微跌，金价走弱。 美股大跌，市场等待经济数据 综合香港万得通讯社消息，美国财政部长贝森特表示，唐纳德·特朗普向美国公民发放2000美元关税分红的提议需要国会批准。特朗普大力 鼓吹美国今年通过关税获得高额收入，但随着公众对生活成本的不满情绪升高，他提出了关税分红。 特朗普上周五在空军一号上对记者说，支票将于明年某个时候发放给"除富人外的所有人"。"这是一大笔钱，但我们从关税中抽出来了这一 大笔钱。关税使我们能够发放分红，"他还补充说，"我们还将减少债务。" 巴菲特建仓 Alphabet，股价大涨 大型科技股多数下跌，谷歌涨超3%，特斯拉涨逾1%，苹果跌近2%，英伟达跌近2%，脸书跌超1%，亚马逊跌0.78%，微软跌0.53%。 截至收盘，道指跌557.24点，跌幅为1.18%；纳指跌192.52点，跌幅为0.84%；标普500指数跌61.70点，跌 ...

2025.11.18 本文字数：1444，阅读时长大约2分钟 作者 |第一财经 樊志菁 周一，华尔街主要股指走势承压。本周市场日程密集，既包括人工智能巨头英伟达的财报发布，也将迎 来9月非农等政府经济数据的恢复披露。 截至收盘，道琼斯工业平均指数下跌557.24点，跌幅1.18%，收于46590.24 点，纳斯达克综合指数跌 0.84%，收于22708.07点，标准普尔500指数跌0.92%，收于6672.41点，4月以来首次跌破50日均线重要 心理支撑，衡量市场波动性的芝加哥商业交易所Cboe恐慌指数VIX大涨12.97%，报22.39。 稍早收盘的欧洲三大股指同样走弱，泛欧斯托克600指数跌0.54%，德国DAX 30指数跌1.20%，法国 CAC 40指数跌0.64%。 明星科技股表现分化，谷歌涨3.1%，巴菲特旗下伯克希尔哈撒韦披露第三季度买入其股份。 纳斯达克中国金龙指数跌1.2%，阿里巴巴涨2.6%，其正式宣布 "千问"项目全力进军AI to C市场，当天 千问APP公测版上线，京东涨0.8%，拼多多跌1.5%，百度跌1.6%，网易跌1.7%。 随着美国历史上最长时间的政府停摆于上周正式结束，未来 ...

Core Insights - Emerging markets are experiencing significant concerns among asset managers due to overcrowded trades, particularly in Brazilian real and AI-related stocks, leading to warnings of an inevitable pullback [1] - The MSCI Emerging Markets Index has seen a nearly 30% increase this year, marking the longest consecutive monthly rise in over two decades, with potential for the best annual performance since 2017 [2][5] - Historical lessons indicate that after significant gains, such as in 2017, emerging markets can face sharp declines due to factors like hawkish Federal Reserve policies and trade conflicts [5] Market Performance - The MSCI Emerging Markets Index has risen approximately 30% year-to-date, with expectations for the best annual performance since 2017 [2] - A tracking indicator for emerging market local currency bonds is on track for its best returns in six years, with 61% of surveyed investors net overweighting these bonds [5] Investor Sentiment - Investors are showing excessive optimism towards emerging markets, with warnings from analysts that a market correction is likely due to high valuations not reflecting underlying risks [1][5] - A significant portion of investors (61%) are now net overweighting emerging market local currency bonds, a stark contrast to a negative sentiment just a few months prior [5] Regional Insights - Asian technology stocks have faced severe sell-offs, with the Korean Kospi index experiencing a drop of over 6% in a single trading day, highlighting the risks associated with extreme valuations [6][7] - The Brazilian real has seen a return of approximately 30% this year, but concerns about overcrowded positions and fiscal worries are emerging [9][10] Currency and Bond Markets - Currency arbitrage trades, particularly in the Brazilian real, are under pressure as market sentiment shifts towards bearish positions [9] - The Hungarian forint has delivered a 27% return in dollar arbitrage trades, but potential political changes could impact future performance [10] Liquidity Concerns - Frontier markets have benefited from capital outflows from U.S. assets, but warnings are being issued regarding potential liquidity risks in markets like Egypt and Ghana during periods of heightened volatility [10]

Group 1 - The military equipment sector showed strong performance at the opening, with Jianglong Shipbuilding hitting a 20% limit up, Great Wall Military Industry also reaching the limit up, and Beifang Chancheng rising over 14% [2] - The aquaculture sector opened collectively high, with Guolian Aquatic, Zhongshui Fishery, Dongfang Ocean, Haodangjia, and Tianma Technology all hitting limit up, while Dahu Co., Zanzidao, and Baiyang Co. saw significant gains [2] Group 2 - The A-share market opened with all three major indices declining, with the Shanghai Composite Index down 0.05%, the Shenzhen Component Index down 0.12%, and the ChiNext Index down 0.46% [3][4] - The Hang Seng Index opened down 0.49%, and the Hang Seng Technology Index fell by 0.71%, with technology stocks generally retreating, particularly in the power grid, robotics, and tourism sectors [5]

盘面上，军工装备、纺织制造板块走高，黄金、航运、免税概念板块低迷。 09:30 水产板块集体高开，国联水产、中水渔业、东方海洋、好当家、天马科技竞价涨停，大湖股份、獐子岛、百洋股份涨幅靠前。 09:28 宁德时代低开近4%，据公告，公司重要股东、联合创始人黄世霖因自身资金需求，拟通过询价转让方式出让公司4563.24万股股 份，占公司总股本的1%。 09:25 A股开盘丨三大指数集体低开 09:15 人民币对美元中间价报7.0816，调升9个基点。前一交易日中间价报7.0825。 09:00 国内商品期货开盘，集运欧线主力合约涨超6%，焦炭涨超1%。沪银跌超3%，沪金、甲醇跌超2%。 08:41 10年期日本国债收益率上涨2个基点，至1.720%，为2008年6月以来的最高水平。 沪指低开0.05%，深成指低开0.12%，创业板指低开0.46%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | Am | 3988.56c | -1.94 | -0.05% | | 399001 | ...

Group 1 - The article discusses warnings from major financial institutions about a potential technology bubble, with notable figures like Jamie Dimon of JPMorgan Chase expressing concerns about asset valuations entering bubble territory [3][4]. - Various financial entities, including Goldman Sachs and the Bank of England, have echoed these sentiments, indicating that current technology stock valuations are excessively high compared to fundamentals [4][5]. - The article highlights that the value of technology companies related to AI has surged over $10 trillion in three years, with significant increases in stock prices for companies like Nvidia and OpenAI [8]. Group 2 - The author compares the current situation to the late 1990s internet bubble, noting that while there are signs of overvaluation, a critical catalyst for a bubble burst—such as a liquidity reversal—has not yet occurred [9][16]. - Historical precedents, such as the 2000 internet bubble burst, are examined, emphasizing that previous bubbles often followed a pattern of loose monetary policy followed by sudden tightening [10][14]. - The current financial environment shows low credit spreads, suggesting that liquidity is still supportive of technology stocks, which may delay any potential market correction [17][18]. Group 3 - The article posits that two unexpected events could trigger a technology bubble burst: a sudden rise in inflation leading to interest rate hikes, or a lack of buyers for overvalued technology stocks [20][21]. - The concept of valuation is discussed, indicating that as long as there are buyers willing to invest, high valuations can persist without immediate risk [23][24]. - The author concludes that the current supportive monetary and fiscal policies for technology suggest a prolonged period of growth, akin to the late stages of the 1990s bubble [25][27].

英伟达这家公司市值在一夜之间缩水1686.42亿美元，换成人民币大约11966.67亿元，这个账单够吓人，说明资金撤出速度让人目瞪口呆； 热门的中概股也没能幸免，纳斯达克中国金龙指数当日收跌1.59%，百度当日跌超6%，哔哩哔哩跌超4%，小鹏和蔚来分别跌超3%，中概板块几乎是一片灰 色； 在这之前，美国政府刚刚经历了有史以来最长的43天停摆，停摆结束后重启运作，这个过程搞得数据发布时间乱七八糟，让市场多了一层不确定性； 停摆期间很多经济数据延后发布，信息缺口本身就像缺个指挥员，市场难免焦躁，投资者对未来的判断被打上了大大的问号； 美股一夜大跌，好像有人把舞台的灯全关了，英伟达市值蒸发得像是被人用手一挥，这事儿得说清楚，别让大家只记住"跌了"两个字，后面还有一串细节值 得看懂，接下来我把来龙去脉按时间和过程讲清楚，让你知道发生了什么，再别糊里糊涂地跟风恐慌。 11月13日美股收盘，三大指数集体下行，场面比较惨烈，尤其中小科技股被揍得更狠； 当天道琼斯下跌1.65%，标普500跌1.66%，纳指跌2.29%，这些数字说明了市场情绪一锅端式的恐慌； 市场上大型科技股普遍走弱，特斯拉当日跌超6%，英伟达下跌逾3%，谷 ...

与资金抄底科技股，以及黄金急跌后反弹相比，比特币是周五市场的一个明显例外：逆势下跌5%，创6个月新低，且已连续三周下跌。这一反差揭示了 比特币市场的异常处境：在与纳斯达克100指数保持0.8高度相关性的同时，比特币却呈现出"跟跌更大，跟涨更弱"的不对称特征。与此同时，巨鲸抛售 加剧，长期持有者集中出货等多重因素正在共同压制比特币。 科技股迎来抄底资金，黄金也在急跌后反弹，比特币却独自沉沦，"一蹶不振"。这背后到底发生了什么？此前风光无限的加密货币市场为何"惨不忍 睹"？ 周五（11月14日），美股市场出现戏剧性反转，在经历了开盘初期的恐慌性抛售后，资金抄底科技股，纳斯达克和标普500指数在触及关键技术支撑位 后强势反弹。而黄金在盘中最多狂泄超150美元之后，也反弹至4080美元附近，但比特币却成为明显的例外： 当日下跌5%，跌破94000美元关口，创 下6个月新低。 这是比特币连续第三周下跌，也是过去六周中的第五次下跌。更令人震惊的是， 自10月10日的闪崩以来，加密货币市场的冲击波至今未见减弱迹象 ——所有加密货币的总市值损失已超过1万亿美元。 周五市场走势堪称"冰火两重天"。 纳斯达克100指数和标普50 ...

当地时间11月13日晚，交易大厅的屏幕像一面突然裂开的镜子，红色的数字从顶端向下流动，汇成一条无法停止的潮水。 那天早晨，我在纽约近郊的一家咖啡馆坐着，电视里播着国会停摆的最后几分钟，那场历时43天的僵局刚刚结束，市场却没有马上松一口气，反而像被重新 点燃的警报，投资者的手开始颤抖。 道琼斯、标普和纳斯达克的跌幅先后跳出，不同屏幕上的百分比像心电图上的波动，特斯拉、英伟达、谷歌、亚马逊相继变红，英伟达市值一夜蒸发约 1686.42亿美元，这是交易记录上的数字，也是电话那端分析师反复念出的冷数据，来源于交易所和公司市值统计。 我走进曼哈顿一家对冲基金的开放式办公室，几名交易员背对着窗外，指尖敲击键盘的速度没有停歇，但语气变得低沉，他们在讨论美联储政策预期的骤 变，芝商所FedWatch的数据显示，市场对12月降息25个基点的概率从70%降到了约47%，这个数据像一根针，刺在他们的自信上。 那晚，散户论坛的聊天记录被截图到微信群里，语句短促，情绪在键盘后堆积，有人问为什么会这样，有人转发财经媒体的解读，我把这些对话当作现场录 音，拼接成一个足以说明当下焦虑的切面，来源为公开论坛与参与者授权转述。 英伟达的市值蒸发 ...