The current Nasdaq and Shanghai Composite Index are suffering from the same illness: Indexes are in the clouds, individual stocks are in the mud. The causes, however, are different. Nasdaq's root cause is AI siphoning off all the funds. Shanghai Composite's root cause is stockpiling games and a liquidity drought. U.S. stocks are 'droughts kill the dry, floods drown the wet.' A-shares are 'there’s only so much water, no one’s getting full.'