AI bubble pops globally: China wipes out ¥23.5T, Nasdaq drops 3.46% in a day
Grady_Booch · x · 2026-11-01
- China hit first: nearly ¥23.5 trillion erased from Chinese equities since the 2026 peak — STAR50 down 40% in under four months, Unitree down 50%, Zhongji Innolight and Eoptolink down 60%.
- Wall Street follows: major AI stocks crashed 15%-20% in one day while the Nasdaq fell 3.46%, wiping out roughly $1.5 trillion.
- Private markets feel it too: Anthropic could receive a junk credit rating even after its planned IPO, raising financing costs for its proposed $800B infrastructure expansion; OpenAI cut its funding target by $10B to $20B and lowered its proposed valuation from $1.4T to $1.25T.
The thread also references new House Democratic measures, truncated in the original post.
Related event: AI Bubble Fears Trigger Selloff in Nasdaq and Chinese Stocks(4 posts)→
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