--- title: "Don't just focus on the rebound; the \"bottom-fishing army\" in the US stock market has quietly slipped away" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/280425091.md" description: "U.S. retail investors are facing a turning point of risk-reward imbalance, with net selling occurring for the first time recently, reaching a single-day sell-off of $20.6 million. Although market sentiment briefly warmed due to Trump retracting threats against Iran, retail buying has continued to shrink. Vanda Research pointed out that since March, retail participation has declined, and individual investors' confidence in the stock market outlook has weakened, which may bring new pressure to the market" datetime: "2026-03-25T06:54:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280425091.md) - [en](https://longbridge.com/en/news/280425091.md) - [zh-HK](https://longbridge.com/zh-HK/news/280425091.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/280425091.md) | [English](https://longbridge.com/en/news/280425091.md) # Don't just focus on the rebound; the "bottom-fishing army" in the US stock market has quietly slipped away According to the Zhitong Finance APP, as one of the most steadfast "bottom-fishing armies" in the U.S. stock market in recent years, American retail investors are facing a turning point of risk-return imbalance. Data from Vanda Research shows that on Monday, retail investors recorded their first net selling day of individual stocks since November 2023, with a single-day sell-off amounting to $20.6 million. This shift coincided with a rebound in the S&P 500 index—prior to which Trump retracted his threat to bomb Iran's energy infrastructure, leading to a brief warming of market sentiment. During the ongoing escalation of the Middle East conflict, retail buying has continued to shrink. Although these investors returned to buying on Tuesday, the waning enthusiasm of this group, which has historically bought on dips over the past few years, undoubtedly raises concerns in the market, especially given the current pressure on U.S. stocks. Vanda macro strategist Ruta Prieskienyte pointed out in a report on Tuesday: "Since early March, retail participation has continued to decline, while systemic funds are deleveraging, and pure long funds and hedge funds are only maintaining moderate buying." ![image.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260325/1774421173829070.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Meanwhile, an increasing number of signs indicate that individual investors' confidence in the stock market outlook is weakening. The indicator measuring retail investors' risk appetite by Citadel Securities has significantly declined from its peak in February. During the bull market over the past three years, retail buying has often acted as a "stabilizer" during periods of market volatility. Now that this force is cooling, combined with its increasing influence on Wall Street, it may bring new pressure to the market. Data from JP Morgan shows that last year, retail fund inflows reached a record high, nearly double the five-year average, 17% higher than the previous record in 2021, and nearly 60% higher than the levels in 2024 ### 相關股票 - [Invesco QQQ Trust (QQQ.US)](https://longbridge.com/zh-HK/quote/QQQ.US.md) - [Pacer Cash COWZ 100-Nasdaq100RotatorETF (QQWZ.US)](https://longbridge.com/zh-HK/quote/QQWZ.US.md) - [VG S&P 500 (VOO.US)](https://longbridge.com/zh-HK/quote/VOO.US.md) - [Pro UltrPro S&Pro 500 (UPRO.US)](https://longbridge.com/zh-HK/quote/UPRO.US.md) - [iShares Expanded Tech Software Sector ETF (IGV.US)](https://longbridge.com/zh-HK/quote/IGV.US.md) - [Schw Us L-Cp Grw (SCHG.US)](https://longbridge.com/zh-HK/quote/SCHG.US.md) - [NASDAQ Composite Index (.IXIC.US)](https://longbridge.com/zh-HK/quote/.IXIC.US.md) - [Dow Jones Industrial Average (.DJI.US)](https://longbridge.com/zh-HK/quote/.DJI.US.md) - [Proshares UltraPro QQQ (TQQQ.US)](https://longbridge.com/zh-HK/quote/TQQQ.US.md) - [Nasdaq (NDAQ.US)](https://longbridge.com/zh-HK/quote/NDAQ.US.md) - [Fidelity Nasdaq Composite Index ETF (ONEQ.US)](https://longbridge.com/zh-HK/quote/ONEQ.US.md) - [SPDR S&P Software (XSW.US)](https://longbridge.com/zh-HK/quote/XSW.US.md) - [SPDR Djia (DIA.US)](https://longbridge.com/zh-HK/quote/DIA.US.md) - [NASDAQ-100 (.NDX.US)](https://longbridge.com/zh-HK/quote/.NDX.US.md) - [Invesco Nasdaq 100 ETF (QQQM.US)](https://longbridge.com/zh-HK/quote/QQQM.US.md) - [Proshares UltraPro Short QQQ ETF (SQQQ.US)](https://longbridge.com/zh-HK/quote/SQQQ.US.md) - [SPDR S&P 500 (SPY.US)](https://longbridge.com/zh-HK/quote/SPY.US.md) - [S&P 500 (.SPX.US)](https://longbridge.com/zh-HK/quote/.SPX.US.md) ## 相關資訊與研究 - [ROI-Why $100 oil won't break the American consumer: McGeever](https://longbridge.com/zh-HK/news/280166425.md) - [Is Nordson Stock Outperforming the Nasdaq?](https://longbridge.com/zh-HK/news/279925340.md) - [Nasdaq says short interest rose 2.5% in mid-March](https://longbridge.com/zh-HK/news/280366616.md) - [U.S. stock index futures extend gains; S&P 500 e-mini futures up 2.7%, Nasdaq 100 futures up 2.6%, Dow futures up 2.7%](https://longbridge.com/zh-HK/news/280151266.md) - [U.S. commercial paper market shrinks in week-Fed](https://longbridge.com/zh-HK/news/279827159.md)