Wallstreetcn.com reports that the U.S. stock market is exhibiting a "two-faced" characteristic: although the S&P 500 index is less than 2% away from its historical high, its internal structure is fragile, with almost all interest-rate-sensitive sectors having been hit hard. The 10-year U.S. Treasury yield climbed to 5.34%, a new high since 2002. Over the past month, the median S&P 500 component stock fell by 5%, while the index itself remained flat, primarily supported by a roughly 6% gain in the semiconductor sector. The equal-weighted S&P 500 index has fallen for seven consecutive weeks, a phenomenon previously seen only during the 2002 and 2022 bear markets. The small-cap Russell 2000 index has dropped 8.5% from its August high, nearing a technical correction, with "zombie stocks" accounting for over one-third of its components. Bank stocks and the utilities sector have also fallen by over 12% and 17% respectively, approaching correction or bear market territory. Analysts warn that if AI earnings expectations falter, it could trigger broader market pain.