<p>华尔街经历了艰难的交易时段，强于预期的就业报告重新点燃了人们对美联储可能在今年晚些时候加息的担忧，导致主要股指大幅下跌，科技公司受到的冲击尤其严重。</p>
<p>此次抛售在与人工智能相关的公司中表现得尤为明显，这一领域在近年来推动了市场的许多涨幅。投资者担心，强劲的经济增长可能促使政策制定者维持更紧的货币政策，从而提高依赖融资以支持扩张和创新的公司的借贷成本。</p>
<p>以科技股为主的纳斯达克 100 指数下跌了 4.7%，创下自 2025 年 4 月以来的最大单日跌幅，也是自 2025 年 3 月以来的最差周表现。更广泛的市场也面临困境，标准普尔 500 指数下跌了 2.6%，道琼斯工业平均指数下跌 694 点。</p>
<h3><strong>投资者为何对就业报告做出反应</strong></h3>
<p>强劲的就业数据通常被视为经济健康的标志。然而，这也可能引发对通胀压力可能仍然高企的担忧，从而降低降息的可能性，并增加未来加息的机会。</p>
<p>较高的利率通常对股票构成压力，因为它们提高了企业的借贷成本，并使未来的收益对投资者的吸引力降低。以增长为导向的科技公司往往受到的打击最为严重，因为许多公司依赖大量资本投资来资助研究、基础设施和扩张。</p>
<p>在就业报告发布后，政府债券收益率上升，达到了自 5 月底以来的最高水平。收益率的上升可能影响整个经济的借贷成本，影响从企业融资到消费者贷款的各个方面。</p>
<h3><strong>7 只主要与 AI 相关的股票引领下跌</strong></h3>
<p>与人工智能热潮相关的几家公司遭遇了两位数的损失，投资者重新评估了科技行业的风险。</p>
<p>受影响最严重的股票包括：</p>
<p>Marvell</p>
<p>Arm</p>
<p>Micron</p>
<p>SanDisk</p>
<p>Intel</p>
<p>AMD</p>
<p>Qualcomm</p>
<p>这些公司在支持人工智能发展的半导体和科技生态系统中扮演着重要角色。随着对加息的担忧加剧，这些公司的股价大幅下跌，显著推动了纳斯达克的下滑。</p>
<h3><strong>市场仍接近历史高位</strong></h3>
<p>尽管周五出现了戏剧性的回调，主要指数仍在今年保持了稳健的涨幅。</p>
<p>标准普尔 500 指数在 2026 年上涨了大约 8%，而纳斯达克年初至今上涨了近 10%。这些数字表明，尽管短期波动加剧，投资者仍对科技和人工智能的长期增长前景保持信心。</p>
<p>许多分析师认为，最近的下跌提醒人们市场对经济数据和美联储政策预期高度敏感。</p>
<h3><strong>IPO 活动增加了不确定性</strong></h3>
<p>投资者的关注也转向了预计将在今年上市的几项备受期待的公开募股。</p>
<p>SpaceX 计划下周在纳斯达克开始交易， reportedly seeking to raise approximately $75 billion. 该公司的估值预计将超过 1.7 万亿美元，使其成为有史以来最大的公开募股之一。</p>
<p>这家航空航天公司与人工智能公司 Anthropic 和 OpenAI 一起，后者都在进行重大融资努力，可能成为今年最受关注的 IPO 之一。</p>
<p>多项万亿级的募股的到来引发了投资者之间的辩论，关于当前的估值是否准确反映了商业基本面和长期增长前景。</p>
<h3><strong>科技巨头感受到压力</strong></h3>
<p>抛售不仅蔓延到较小的人工智能公司，还波及到一些科技领域的大型企业。</p>
<p>在一份令投资者失望的财报发布后，Broadcom 的股价下跌了 7%，其周跌幅超过 13%。目前全球市值最大的上市公司 Nvidia 的股价下跌了约 6%。</p>
<p>Oracle 的股价下跌了 10%，而 IBM 的股价下跌了约 7%。间接受益于人工智能热潮的公司也受到压力。Caterpillar 的设备通常用于大规模数据中心建设项目，其股价下跌了近 4%。</p>
<p>在有报道称 Meta Platforms 正在考虑进行重大股票发行以增强其人工智能投资后，额外的担忧浮现。该消息使 Meta 的股价下跌超过 6%。</p>
<h3><strong>投资者接下来会怎样</strong></h3>
<p>市场参与者现在密切关注美联储的政策预期。期货市场目前显示美联储在 10 月会议上加息的概率约为 60%。</p>
<p>一些经济学家认为，如果经济增长和劳动市场的强劲表现继续超出预期，政策制定者可能会在今年晚些时候开始逆转之前的降息。</p>
<p>对于投资者来说，最近的抛售突显了当经济数据改变货币政策预期时，市场情绪可以迅速转变。尽管整体市场在今年仍保持正增长，但科技和人工智能股票可能会继续面临加剧的波动，因为交易者评估利率的走势和高估值的可持续性。</p>

纳斯达克 100 指数

迈威尔科技

<p>人工智能股票大幅下跌，强劲的就业报告引发了对美联储加息的担忧，导致主要指数急剧下滑。纳斯达克 100 指数下跌 4.7%，与人工智能相关的公司如迈威尔科技和 AMD 因借贷成本上升而领跌。尽管出现抛售，但年初至今的收益仍保持正增长。市场波动性持续，投资者在权衡经济数据与货币政策预期以及即将到来的高调首次公开募股之间</p>

<p>Wall Street endured a difficult trading session as a stronger than expected jobs report reignited concerns that the Federal Reserve could raise interest rates later this year, sending major stock indexes sharply lower and hitting technology companies especially hard.</p>
<div class="lb-trans"><p>华尔街经历了艰难的交易时段，强于预期的就业报告重新点燃了人们对美联储可能在今年晚些时候加息的担忧，导致主要股指大幅下跌，科技公司受到的冲击尤其严重。</p>
</div><p>The sell off was most pronounced among firms tied to artificial intelligence, a sector that has fueled much of the market’s gains in recent years. Investors worried that stronger economic growth could prompt policymakers to maintain a tighter monetary stance, increasing borrowing costs for companies that depend heavily on financing to support expansion and innovation.</p>
<div class="lb-trans"><p>此次抛售在与人工智能相关的公司中表现得尤为明显，这一领域在近年来推动了市场的许多涨幅。投资者担心，强劲的经济增长可能促使政策制定者维持更紧的货币政策，从而提高依赖融资以支持扩张和创新的公司的借贷成本。</p>
</div><p>The technology heavy Nasdaq 100 dropped 4.7%, marking its steepest daily decline since April 2025 and its worst weekly performance since March 2025. The broader market also struggled, with the S&amp;P 500 falling 2.6% and the Dow Jones Industrial Average shedding 694 points.</p>
<div class="lb-trans"><p>以科技股为主的纳斯达克 100 指数下跌了 4.7%，创下自 2025 年 4 月以来的最大单日跌幅，也是自 2025 年 3 月以来的最差周表现。更广泛的市场也面临困境，标准普尔 500 指数下跌了 2.6%，道琼斯工业平均指数下跌 694 点。</p>
</div><h3><strong>Why investors reacted to the jobs report</strong></h3>
<div class="lb-trans"><h3><strong>投资者为何对就业报告做出反应</strong></h3>
</div><p>Strong employment figures are often viewed as a sign of economic health. However, they can also create concerns that inflationary pressures may remain elevated, reducing the likelihood of interest rate cuts and increasing the chances of future hikes.</p>
<div class="lb-trans"><p>强劲的就业数据通常被视为经济健康的标志。然而，这也可能引发对通胀压力可能仍然高企的担忧，从而降低降息的可能性，并增加未来加息的机会。</p>
</div><p>Higher interest rates typically weigh on stocks because they raise borrowing costs for businesses and make future earnings less attractive to investors. Growth oriented technology companies are often among the hardest hit because many rely on significant capital investments to fund research, infrastructure and expansion.</p>
<div class="lb-trans"><p>较高的利率通常对股票构成压力，因为它们提高了企业的借贷成本，并使未来的收益对投资者的吸引力降低。以增长为导向的科技公司往往受到的打击最为严重，因为许多公司依赖大量资本投资来资助研究、基础设施和扩张。</p>
</div><p>Government bond yields climbed following the jobs report, reaching their highest levels since late May. Rising yields can influence borrowing costs throughout the economy, affecting everything from corporate financing to consumer loans.</p>
<div class="lb-trans"><p>在就业报告发布后，政府债券收益率上升，达到了自 5 月底以来的最高水平。收益率的上升可能影响整个经济的借贷成本，影响从企业融资到消费者贷款的各个方面。</p>
</div><h3><strong>7 major AI-related stocks led the decline</strong></h3>
<div class="lb-trans"><h3><strong>7 只主要与 AI 相关的股票引领下跌</strong></h3>
</div><p>Several companies connected to the AI boom suffered double digit losses as investors reassessed risk across the technology sector.</p>
<div class="lb-trans"><p>与人工智能热潮相关的几家公司遭遇了两位数的损失，投资者重新评估了科技行业的风险。</p>
</div><p>Among the hardest hit stocks were:</p>
<div class="lb-trans"><p>受影响最严重的股票包括：</p>
</div><p>Marvell</p>
<div class="lb-trans"><p>Marvell</p>
</div><p>Arm</p>
<div class="lb-trans"><p>Arm</p>
</div><p>Micron</p>
<div class="lb-trans"><p>Micron</p>
</div><p>SanDisk</p>
<div class="lb-trans"><p>SanDisk</p>
</div><p>Intel</p>
<div class="lb-trans"><p>Intel</p>
</div><p>AMD</p>
<div class="lb-trans"><p>AMD</p>
</div><p>Qualcomm</p>
<div class="lb-trans"><p>Qualcomm</p>
</div><p>Each of these companies plays an important role in the semiconductor and technology ecosystem that supports AI development. As concerns about higher rates intensified, shares of these firms fell sharply, contributing significantly to the Nasdaq’s decline.</p>
<div class="lb-trans"><p>这些公司在支持人工智能发展的半导体和科技生态系统中扮演着重要角色。随着对加息的担忧加剧，这些公司的股价大幅下跌，显著推动了纳斯达克的下滑。</p>
</div><h3><strong>Market remains near record highs</strong></h3>
<div class="lb-trans"><h3><strong>市场仍接近历史高位</strong></h3>
</div><p>Despite Friday’s dramatic pullback, major indexes continue to post solid gains for the year.</p>
<div class="lb-trans"><p>尽管周五出现了戏剧性的回调，主要指数仍在今年保持了稳健的涨幅。</p>
</div><p>The S&amp;P 500 remains up roughly 8% in 2026, while the Nasdaq has gained close to 10% year to date. Those figures suggest that investors still maintain confidence in the long term growth outlook for technology and AI, even as short term volatility increases.</p>
<div class="lb-trans"><p>标准普尔 500 指数在 2026 年上涨了大约 8%，而纳斯达克年初至今上涨了近 10%。这些数字表明，尽管短期波动加剧，投资者仍对科技和人工智能的长期增长前景保持信心。</p>
</div><p>Many analysts view the recent decline as a reminder that markets remain highly sensitive to economic data and Federal Reserve policy expectations.</p>
<div class="lb-trans"><p>许多分析师认为，最近的下跌提醒人们市场对经济数据和美联储政策预期高度敏感。</p>
</div><h3><strong>IPO activity adds another layer of uncertainty</strong></h3>
<div class="lb-trans"><h3><strong>IPO 活动增加了不确定性</strong></h3>
</div><p>Investor attention is also turning toward several highly anticipated public offerings expected to reach the market this year.</p>
<div class="lb-trans"><p>投资者的关注也转向了预计将在今年上市的几项备受期待的公开募股。</p>
</div><p>SpaceX is scheduled to begin trading on the Nasdaq next week and is reportedly seeking to raise approximately $75 billion. The company is expected to carry a valuation exceeding $1.7 trillion, making it one of the largest public offerings ever.</p>
<div class="lb-trans"><p>SpaceX 计划下周在纳斯达克开始交易， reportedly seeking to raise approximately $75 billion. 该公司的估值预计将超过 1.7 万亿美元，使其成为有史以来最大的公开募股之一。</p>
</div><p>The aerospace company is joined by AI firms Anthropic and OpenAI, both of which are pursuing major fundraising efforts and could become some of the year’s most closely watched IPOs.</p>
<div class="lb-trans"><p>这家航空航天公司与人工智能公司 Anthropic 和 OpenAI 一起，后者都在进行重大融资努力，可能成为今年最受关注的 IPO 之一。</p>
</div><p>The arrival of multiple trillion dollar offerings has prompted debate among investors about whether current valuations accurately reflect business fundamentals and long term growth prospects.</p>
<div class="lb-trans"><p>多项万亿级的募股的到来引发了投资者之间的辩论，关于当前的估值是否准确反映了商业基本面和长期增长前景。</p>
</div><h3><strong>Tech giants feel the pressure</strong></h3>
<div class="lb-trans"><h3><strong>科技巨头感受到压力</strong></h3>
</div><p>The selling spread beyond smaller AI focused firms and reached some of the biggest names in technology.</p>
<div class="lb-trans"><p>抛售不仅蔓延到较小的人工智能公司，还波及到一些科技领域的大型企业。</p>
</div><p>Broadcom shares fell 7% after an earnings report that disappointed investors, bringing its weekly decline to more than 13%. Nvidia, currently the world’s largest publicly traded company by market value, lost about 6%.</p>
<div class="lb-trans"><p>在一份令投资者失望的财报发布后，Broadcom 的股价下跌了 7%，其周跌幅超过 13%。目前全球市值最大的上市公司 Nvidia 的股价下跌了约 6%。</p>
</div><p>Oracle experienced a 10% decline, while IBM dropped roughly 7%. Companies benefiting indirectly from the AI boom also came under pressure. Caterpillar, whose equipment is often used in large scale data center construction projects, saw its shares fall nearly 4%.</p>
<div class="lb-trans"><p>Oracle 的股价下跌了 10%，而 IBM 的股价下跌了约 7%。间接受益于人工智能热潮的公司也受到压力。Caterpillar 的设备通常用于大规模数据中心建设项目，其股价下跌了近 4%。</p>
</div><p>Additional concerns emerged after reports indicated that Meta Platforms was considering a significant stock offering to strengthen its AI investments. The news pushed Meta shares down more than 6%.</p>
<div class="lb-trans"><p>在有报道称 Meta Platforms 正在考虑进行重大股票发行以增强其人工智能投资后，额外的担忧浮现。该消息使 Meta 的股价下跌超过 6%。</p>
</div><h3><strong>What comes next for investors</strong></h3>
<div class="lb-trans"><h3><strong>投资者接下来会怎样</strong></h3>
</div><p>Market participants are now closely monitoring Federal Reserve policy expectations. Futures markets currently indicate a roughly 60% probability of an interest rate increase by the Fed’s October meeting.</p>
<div class="lb-trans"><p>市场参与者现在密切关注美联储的政策预期。期货市场目前显示美联储在 10 月会议上加息的概率约为 60%。</p>
</div><p>Some economists believe policymakers could begin reversing previous rate cuts later this year if economic growth and labor market strength continue to exceed expectations.</p>
<div class="lb-trans"><p>一些经济学家认为，如果经济增长和劳动市场的强劲表现继续超出预期，政策制定者可能会在今年晚些时候开始逆转之前的降息。</p>
</div><p>For investors, the latest sell off underscores how quickly sentiment can shift when economic data alters expectations for monetary policy. While the broader market remains in positive territory for the year, technology and AI stocks could continue facing heightened volatility as traders evaluate the path of interest rates and the sustainability of lofty valuations.</p>
<div class="lb-trans"><p>对于投资者来说，最近的抛售突显了当经济数据改变货币政策预期时，市场情绪可以迅速转变。尽管整体市场在今年仍保持正增长，但科技和人工智能股票可能会继续面临加剧的波动，因为交易者评估利率的走势和高估值的可持续性。</p>
</div>

AI stocks suffer steep losses after surprising jobs data

- 华尔街因就业数据影响，主要股指大幅下跌，科技股受挫。  
- 七大 AI 股票遭遇双位数损失，纳斯达克跌幅达 4.7%。  
- 市场对未来加息预期增强，投资者关注美联储政策动向。

AI 股票在意外的就业数据公布后遭遇严重损失