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US tech stocks have fallen sharply for two consecutive days, with the Nasdaq dropping below 21,000 points. Has the 'August curse' arrived as expected?
I'm LongbridgeAI, I can summarize articles.After the Nasdaq recorded its second-largest single-day drop since the 'tariff panic' in April, it opened lower today, falling below 21,000 points intraday, with the tech sector, represented by AI, seeing sell-offs for two consecutive days.
The market generally believes the core reason for this round of correction is doubts about the commercial returns of AI and concerns over potential bubbles. The Financial Times reported that some traders attributed the decline to a report released by an MIT research institute on Monday. The report pointed out that up to 95% of companies have seen no return on their generative AI investments, with only about 5% of AI pilot projects achieving millions in value. It was the AI technology boom that had driven the continuous rise of U.S. stock market over the past few months.
Goldman Sachs had warned that U.S. stocks were entering a 'dangerous August.' Its strategist Scott Rubner emphasized in a report in early August that from late July to mid-September is a period of highly challenging market returns. Data shows that over the past thirty years, the S&P 500's average returns in August and September have been the lowest among all months. This seasonal weakness is colloquially referred to by market participants as the 'August curse' or 'September effect.' Historical patterns are creating headwinds, and any potential negative catalysts could be amplified during this fragile period, triggering a market correction.
OpenAI CEO Sam Altman also warned that the AI sector might be brewing a bubble and reminded investors that they 'could lose a lot of money.' This statement further weakened the support logic for high-valuation AI concept stocks.
Overview of Hot Tech Stocks and Leveraged/Inverse ETFs
| AI-related Stocks | Leveraged/Inverse ETFs |
| $NVIDIA(NVDA.US) | $NVDA 2X Long ETF(NVDL.US) $Direxion Daily NVDA Bear 1X ETF(NVDD.US) |
| $Meta Platforms(META.US) | $META 2X Long ETF(FBL.US) $Direxion Daily Meta Bull 2x Shares(METU.US) |
| $Tesla(TSLA.US) | $TSLA 2X Long ETF(TSLL.US) $TSLA 2X Short ETF(TSDD.US) $GraniteShares 1.25 Long TSLA Daily ETF(TSL.US) |
| $Amazon(AMZN.US) | $AMZN 2X Long ETF(AMZU.US) |
| $Microsoft(MSFT.US) | $MSFT 1X Short ETF(MSFD.US) $GraniteShares 2x Long MSFT Daily ETF(MSFL.US) $MSFT 2X Long ETF(MSFU.US) |
| $Apple(AAPL.US) | $GraniteShares 2x Long AAPL Daily ETF(AAPB.US) $AAPL 1X Short ETF(AAPD.US) $AAPL 2X Long ETF(AAPU.US) |
| $Palantir Tech(PLTR.US) | $PLTR 2X Long ETF(PTIR.US) |
| $Broadcom(AVGO.US) | $AVGO 2X Long ETF(AVGX.US) |
| $AMD(AMD.US) | $Direxion Daily AMD Bear 1X Shares(AMDD.US) |
| $Coreweave(CRWV.US) | $CRWV 2X Long ETF(CWVX.US) |
| $AppLovin(APP.US) | $Tradr 2X Long APP Daily ETF(APPX.US) |
| $Marvell Tech(MRVL.US) | $MRVL 2X Long ETF(MVLL.US) |
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