AI bubble concerns impact US stock market, Nvidia faces profit pressure

According to ChainCatcher, citing Golden Ten Data, analyst Adam Button stated that today's US stock market performance did not meet the expectations of the bulls, with many stocks leaving unsightly candlesticks on the charts. He pointed out that there is a bubble in Nvidia, and the performance of Google's Gemini 3 further confirms this, indicating that other companies can also build large language models without Nvidia chips, which could reduce Nvidia's profits. Nvidia accounts for 8% of the S&P 500 index, and if its value is halved, it would directly cut 4 percentage points. In addition, the Federal Reserve's stance is also affecting the market, with Powell opposing a rate cut in December, and market expectations for a rate cut have dropped to 36%.