Today is March 6th. Last night, the US stock market was dragged down by technology stocks, with all three major indexes falling by over 1%. The Nasdaq index once fell by over 2%, hitting a new low in nearly two weeks, while the Dow Jones Industrial Average also touched a two-week low. Heavyweight technology stocks Tesla and Apple fell by nearly 4% and nearly 3% respectively, continuing to lead the decline of the technology 'Big Seven' stocks. However, Nvidia turned to rise after briefly falling by over 2% during the trading session, ending with a thrilling new high. Although AMD and Taiwan Semiconductor initially experienced significant declines during trading, AMD eventually recovered most of its losses.
The US service sector showed signs of slowing down in February, with the ISM Services PMI lower than expected, employment and price indexes declining, while demand indicators showed some improvement. Following this data release, the yield on the 10-year US Treasury bond hit a more than three-week low, and the US dollar index quickly turned lower to reach a more than one-week low, reflecting market concerns about future US economic growth.
Internationally, the year-on-year growth data of the Tokyo CPI in Japan has sparked expectations in the market that the Bank of Japan may soon exit negative interest rate policies and gradually move towards raising interest rates. At the same time, international gold prices and domestic 24k gold jewelry prices have both broken historical highs, making gold the preferred safe haven for investors. After experiencing two consecutive declines, crude oil prices turned higher in the short term, while the price of Bitcoin hit a record high during trading and then saw a significant decline.
In the Chinese market, Chinese concept stocks continued to decline, but the Shanghai Composite Index experienced a slight rebound, showing relative resilience in the Chinese stock market. Nio Inc plunged significantly early in the session but closed with a near 3% rise...