NASDAQ Index Volatility and Risk Analysis:The Correlated Impacts of AI Technological Innovations and Macroeconomic Factors
The NASDAQ Composite generated over 40％return in 2023,and maintained strong performance momentum in the first quarter of 2024.The underlying drivers of NASDAQ Composite's performance are the market's optimistic expecta-tions on the continued expansion of an artificial intelligence(AI)investment boom,the Federal Reserve's restart of monetary easing,and the successful"soft landing"of the US economy.However,these expectations face challenges.The AI technology breakthrough and application expansion may not sustain,and the persistently high US inflation may impact the Federal Re-serve's monetary policy decisions.Additionally,the fiscal and debt risks of the US may induce economic crises.Consequently,there is a non-negligible and significant downside risk for NASDAQ Composite.Mainly composed of technology stocks,the NASDAQ Composite has an increasing influence on global finance and economy.China should monitor the risks associated with the index and prepare to manage the spillover risks in its financial markets.
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