[Analysis: Leading stocks face one of the most severe sell-offs since the dot-com bubble, focus on the performance of Korean storage sector today] BlockBeats News, July 3 – Renowned analyst degentrading published an analysis on the market's sharp fluctuations, noting that recent leading stocks have experienced a 'massacre,' potentially one of the most severe sell-offs of leading stocks since the dot-com bubble, with an overall decline of approximately 24%. The Nasdaq 100 closed down 1.6%, while the S&P 500 saw only a slight dip. However, beneath the surface of the indices, sector rotation was extremely intense, as evidenced by Apple's countertrend rise of 4.64%, suggesting that the semiconductor sector faced significant downward pressure. Given that most hedge funds were implicitly long on recent leading stocks, it is expected that a large portion of them have been forced to exit or actively reduce their positions during this round. The closing auction for U.S. stocks this morning was relatively orderly, with closing strength exceeding expectations. Looking ahead, degentrading believes attention should be paid to the trading reactions of SK Hynix and Samsung Electronics in the Korean market session following SanDisk's 14% plunge. Degentrading stated that despite the significant risk exposure in their personal portfolio, they remain unwavering. [Original link]