U.S. stock market midday update: MOGU down 11.20%

U.S. Stock Market Midday Update Stocks with High Trading Volume in the Industry Amazon fell 1.06%, with a trading volume of $4.611 billion. Based on recent important news: On September 17, Amazon announced an investment of over $1 billion to raise employee salaries and reduce healthcare costs. This move raised market concerns about the company's rising costs, leading to a decline in stock price. On September 16, Amazon announced that it would hold the "Prime Big Deal Days" promotional event from October 7 to 8, which is expected to drive sales growth, but the market reaction was tepid. On September 17, Amazon launched an upgraded artificial intelligence assistant to help merchants cope with the holiday shopping season and improve operational efficiency, but it failed to boost the stock price. The overall performance of the retail industry remained stable, with limited impact from macroeconomic data. Alibaba rose 2.57%, with a trading volume of $3.371 billion. According to recent important news: On September 17, Alibaba completed the issuance of $3.2 billion zero-coupon convertible preferred notes, with an initial conversion price at a premium of 31.25% over the reference price, which boosted market confidence and drove the stock price up. On September 16, Jack Ma returned to the Alibaba campus, showing his direct involvement in the company's strategy, leading to an optimistic market outlook under his leadership, which caused the stock price to rise. On September 15, Alibaba launched Amap Street Stars, attracting a large number of users and enhancing its competitiveness in the local services market, positively impacting the stock price. The industry trend is favorable, with significant capital inflow. Pinduoduo rose 2.81%. Based on recent important news: On September 15, Pinduoduo launched a 10 billion yuan subsidy, reducing the price of the iPhone 17 series by 1,000 yuan, becoming the channel with the largest price reduction on the internet, driving the stock price up. Data source: Pinduoduo official website. On September 15, UBS analysis pointed out that U.S. economic data was relatively weak, increasing market expectations for a Federal Reserve interest rate cut, prompting capital inflows into emerging markets and boosting tech stocks like Pinduoduo. Data source: UBS analysis. On September 15, the global e-commerce market entered a new round of reshuffling, and Pinduoduo enhanced its market competitiveness through subsidy strategies, attracting investor attention. Data source: market analysis. The e-commerce market is highly competitive, with capital flowing into emerging markets. Stocks with High Market Capitalization in the Industry Latin American Commercial Services rose 2.90% based on recent key news: On September 16, MercadoLibre announced modifications to its revolving credit agreement, allowing it to request an additional $400 million commitment. This news boosted market confidence in the company's financial flexibility, driving the stock price up. On September 17, the company disclosed that its bad debt ratio over 90 days remained stable at around 20%. Despite the high bad debt rate, the company was still able to maintain a 20% net interest margin due to high interest rates in the Latin American region, keeping investors optimistic about its profitability On September 17th, analysts pointed out that the company's strategic layout in payment and credit businesses contributes to its rapid growth, especially under low customer acquisition costs, which further enhances market expectations for the company's future growth. The high interest rate environment in Latin America is favorable for the company's profitability