#GlobalTechSell-OffHitsRiskAssets

The technology sell-off that has been ongoing in global markets for the past week continues to deeply shake risky assets. In particular, the fear of "business model disruption" caused by Anthropic's new AI automation tools in the software and services sector has been a trigger, and this concern has spread rapidly. The S&P 500 software and services index has lost approximately $1 trillion in market value since the end of January; giants like Salesforce and ServiceNow have experienced sharp declines, while Amazon's shares fell by over 10% after announcing a massive $200 billion AI spending plan for 2026. Alphabet's capex expectation of up to $185 billion has further fueled the question of whether the AI bubble is bursting. This sell-off wave was not limited to technology; the risk-off mode spread to all asset classes. Bitcoin lost nearly 50% of its value from its record high, falling to around $61,000, and even silver and gold came under pressure. The crypto market has entered a full-blown bear market atmosphere with liquidity crunch and the mass unwinding of leveraged positions. Analysts are divided on whether this movement is just a correction or a deeper AI narrative breakdown. On one side are those who say "overreaction, a dip-buying opportunity"; on the other, the prevailing view is "high valuations + massive capex + business model risk = unsustainable". Currently, the markets are in a state of searching for equilibrium: volatility is high, liquidity is thin, and dip hunters are clashing with panic sellers. The earnings and guidance announcements of major tech companies in the coming days seem likely to determine the direction of this storm. Do you think this is just a temporary rotation, or has the first major trend break of 2026 begun? I await your comments!