The Nasdaq and US stocks are likely to continue to plummet in the future! Why? Americans insist on withdrawing liquidity from the world. The 10-year US Treasury yield is above 5%, the US dollar is strengthening, funds are flowing back into US dollar assets, and risky assets are being drained. The AI debt financing model is starting to fail. The CDS spread has soared to over 1100 basis points, and creditors no longer believe that the story of "borrowing money and accumulating computing power" can turn into cash flow. The AI foam, which was blown by borrowing money, began to fail to pay off debts.