The US stock market has split into two camps: AI stocks have plummeted, while most constituent stocks are rising The US stock market is experiencing a rare internal split: on one hand, AI and semiconductor stocks, which previously dominated the four-year bull market, are rapidly retreating, while on the other hand, consumer goods, small and medium-sized enterprises, and a large number of traditional industry stocks are strengthening. Funds did not simply withdraw from the stock market, but quickly switched between the two camps, causing the trends of major indices and most individual stocks to become increasingly disconnected. On Thursday, the S&P 500 index fell 1.2%, marking its worst single day performance since July, while the Nasdaq Composite Index plummeted 2.6%; However, at the same time, over 300 constituent stocks of the S&P 500 actually closed higher. The Dow Jones Industrial Average and Russell 2000 Index even closed slightly higher. This phenomenon is not common. According to Dow Jones market data statistics, the last time there was a similar extreme divergence where the S&P 500 experienced a significant decline but most of its constituent stocks rose was in January 2025.