The US stock market staged a "big reversal," and investors questioned the momentum for the year-end rally

According to Jinshi News, Nvidia (NVDA.O) reported strong earnings results and confirmed that the economic fundamentals remain robust with its employment report, but the optimism in the U.S. stock market did not last. Traders pointed out that concerns about AI revenue and profits have resurfaced, and the drop in cryptocurrency to its lowest point since April also affected the stock market. Chris Murphy, co-head of derivatives strategy at Susquehanna International, stated that investors are beginning to question the driving factors for the year-end rally, and CTA positions remain fragile, which could trigger the automatic liquidation mechanisms of quantitative funds, leading to additional selling.