On February 6th, the global financial markets experienced a "Black Friday," with mainstream assets initially rallying across the board. The sell-off on Wall Street intensified across nearly all sectors, with only 200 stocks in the S&P 500 rising. Weak employment data sparked concerns among investors about economic resilience. U.S. job openings in December fell to their lowest level since 2020, and January layoffs hit a new high since 2009, with all three major stock indices dropping over 1%. Technology stocks were the hardest hit, with the software sector declining for the eighth consecutive day. Related ETFs plummeted 5%, and SaaS software stocks fell to their lowest levels since November 2023.