[Risk Aversion Dominates and Block Layoffs Intensify AI Concerns, U.S. Stocks Decline] Jin10 Data, February 27 – U.S. stocks opened lower as risk aversion swept the market, and large-scale layoffs at fintech company Block further heightened concerns that artificial intelligence could disrupt numerous economic sectors. The U.S. January PPI exceeded expectations by 0.5% (mainly driven by the service sector), which also pressured the stock market as it indicated inflationary pressures that might prevent the Federal Reserve from lowering interest rates. Nvidia, the largest-weighted stock in the S&P 500 index, continued to decline after its earnings report was released. Deutsche Bank strategist Jim Reid wrote: 'The scale of its earnings beat did not reach the levels the market has grown accustomed to in 2023 to 2024, and this occurred against a backdrop of widespread skepticism about the entire AI trade.'