The US stock market suddenly encountered a fierce dumping

Golden Ten Data on December 28, the three major U.S. stock indexes collectively fell overnight, the Nasdaq once dumped more than 2% intraday, and as of the close, the Dow fell 0.77%, ending the daily candlestick five consecutive rises; The Nasdaq fell 1.49%, losing 20,000 points; The S&P 500 fell 1.11%. The "Big Seven" of U.S. stocks fell across the board, and TSL once fell by more than 6%; U.S. chip stocks and AI concept stocks also closed across the board. It is worth noting that this wave of the US stock market was not driven by important economic data or news, which surprised the market. Wall Street analysts believe that in the absence of major news, data and thin trading, the 10-year Treasury yield, which is the anchor of asset pricing, will have an impact on the stock market, and the higher the yield, the greater the pressure on the stock market. The yield on the 10-year Treasury rose nearly 1% on Friday, rising to 4.629%, near a seven-month high. The U.S. stock market may also face the risk of crazy dumping of funds. According to Bank of America, the U.S. stock market saw an outflow of about $35 billion over the past week, the highest weekly outflow since December 2022. Separately, Goldman Sachs' trading unit estimates that U.S. pension funds will sell $21 billion in U.S. equities and buy the same amount of bonds by the end of December this year, given the movement of stocks and bonds.