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On May 21, Goldman Sachs traders reported that hedge funds have been selling off soaring US semiconductor stocks to lock in profits, while still maintaining overall exposure to the artificial intelligence theme. In a report sent to clients, Goldman’s prime brokerage team noted that over the past month, semiconductors and semiconductor equipment have been the most net-sold subsectors in the US stock market. Meanwhile, these funds have increased their short positions in US macro products, indices, and exchange-traded funds (ETFs), which are typically used to hedge broader market risks. These short positions have now reached their highest level in a decade. The team led by Vincent Lin stated, 'This indicates that as stock prices in this sector have surged, funds are consolidating and managing their semiconductor exposure within their overall portfolios, rather than signaling a paradigm shift away from the AI theme.' Goldman Sachs' basket of AI stocks in technology, media, and telecommunications shows that overall exposure to US AI stocks remains close to record highs.

On May 21, Iranian media Fars News reported that Iran has stated that approximately 30 vessels have applied to transit the Strait of Hormuz.

According to ChainCatcher, Golden Ten Data reported that the probability of a Federal Reserve rate hike has surged to 52%. Currently, the 30-year US Treasury yield has surpassed 5%, and the market, without waiting for the Federal Reserve's statement, is already reflecting rate hike expectations. Analysis indicates that the movements of gold and US stocks will be affected, and investors need to pay attention to relevant market dynamics.