The downward revision of employment data has led to a significant drop in the U.S. stock market, exposing a certain degree of fragility in economic data: the previous employment figures may have masked the market's real expectation gap, and the market's sharp decline is not merely a reaction to a single piece of data, but rather a panic over a larger expectation gap. The market turmoil triggered by the employment revision may, in the long run, just be a prelude to the unemployment storm brought about by AI: while the earnings of listed companies continue to grow, employment continues to decline.
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