US stocks closed with all three major indices falling, with the S&P Nasdaq index seeing its largest weekly decline in three months. Technology stocks weakened, with Tesla down more than 4%, Nvidia down more than 2%, and CrowdStrike down more than 11%.
Investors accelerated their escape from technology stocks, with stocks and bonds in Europe and the United States being hit hard for two days. This week, the S&P 500 and Nasdaq fell by about 2% and 3.7%, respectively. The Nasdaq stopped its six-week continuous rise, while the Dow and small-cap indices rose by 0.7% and 1.7%, respectively. Chip stocks fell more than 3% on Friday and nearly 9% for the week. Nvidia also fell more than 8.7% for the past three months, making it the worst performer. The "seven sisters of technology" all fell for the week, and cybersecurity leader Crowdstrike, which triggered a global technology outage, fell 11% on Friday, the worst in nearly two years. The VIX panic index rose more than 32% for the week.
Meta Data Changes ADS Ratio From 1 ADS Representing 2 Class A Shares To 1 ADS Representing 10 Class A Shares
Meta Data Changes ADS Ratio From 1 ADS Representing 2 Class A Shares To 1 ADS Representing 10 Class A
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With the help of generative AI, Google is expected to continue its strong growth from Q1 and cloud revenue in Q2 is expected to increase significantly by 25% year-on-year. Tesla's gross margin in Q2 may be lower than expected, and investors will focus on the latest news on FSD, Robotaxi, and energy storage.
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