"I feel like I'm back in 2008": AI trades collapse across the board, chip stocks enter a bear market, momentum ETFs post their biggest drop since the pandemic, and buyers have gone on strike.

Zhito Finance APP has learned that on Thursday, Wall Street staged a collective retreat. Selling intensified rapidly after the U.S. stock market opened, with almost no exceptions from AI chip leaders such as Nvidia (NVDA.US) to defensive assets such as Walmart (WMT.US). The Nasdaq 100 Index closed down more than 6%, marking its largest single-day decline since March 2020.