Opinion: The sudden drop in US stocks without warning may be triggered by high leverage ETFs and AI uncertainty BlockBeats news: On June 25th, the US stock market opened high and fell low tonight. Without any major news, the Nasdaq 100 index fell 1000 points in 27 minutes, and the S&P 500 wiped out $1 trillion in market value. After opening, it quickly changed from+1% to -3%. Looking back at pre-market information, PCE inflation in the United States rose to 4.1% (the highest since April 2023), coupled with Apple's announcement of up to 25% price increases for Mac and iPad due to soaring AI chip costs, causing Apple's stock price to instantly drop by nearly 6% and erase $220 billion in market value, triggering panic selling. But these news seem insufficient to trigger such a rapid decline in the market. The Kobeissi Letter believes that the widespread presence of highly leveraged ETFs, AI uncertainty, and massive cryptocurrency liquidation in the market are the main reasons for increased volatility, and it is expected that market volatility will continue.