Likes ReceivedOverseas Markets | US Chip Stocks Plunge, London Spot Gold Falls Below $4,600
The Nasdaq fell 0.90%, the S&P 500 fell 0.49%, and the Dow Jones edged down 0.05%. U.S. tech stocks came under pressure, with the Philadelphia Semiconductor Index plunging 3.58%. TSMC fell over 3%, Broadcom fell over 4%, Arm fell nearly 8%, and NVIDIA and Meta followed the decline.
The Golden Dragon Index of Chinese concept stocks fell 0.49%, adjusting in line with the broader market. Kingsoft Cloud and GDS Holdings led the declines, while Nio bucked the trend and rose over 2%. International gold prices were suppressed by the dual rise of the U.S. dollar and U.S. Treasury yields, briefly falling below $4,600 during the session.
Ping An Securities pointed out that reduced divergence in expectations regarding the Middle East situation has eased liquidity shocks, but expectations of stagflation and the weakening of U.S. dollar credit remain unchanged. The medium to long-term outlook for gold prices remains positive, while the short term requires attention to the pace of the Federal Reserve's policy.
Related ETFs:
Global Tech Leaders: Nasdaq ETF Huaxia (513300)
U.S. Core Broad-based Index: S&P 500 ETF Huaxia (159655)
Tracking Gold Price Performance: Gold ETF Huaxia (518850)
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