---
title: "The S&P ended a six-day winning streak, with Google leading the decline among tech giants after a major release, Tesla rebounded strongly, and U.S. oil jumped in early Asian trading"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/241115567.md"
description: "Among the seven tech giants, only Tesla saw an increase, rising over 3% at the beginning of the session; quantum computing stock D-Wave surged nearly 26%; Wolfspeed plummeted over 50% after hours; the China concept index fell for two consecutive days, but Xiaomi rose over 4%. The US dollar index approached 100, hitting a new low in over a week; Bitcoin briefly rose over $3,000, surpassing the $107,000 mark, reaching a four-month high. During the US stock market session, crude oil fell over 1%, while gold rose 2%. In the Asian market, US oil rose over 2% at the beginning of the session"
datetime: "2025-05-20T23:39:20.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/241115567.md)
  - [en](https://longbridge.com/en/news/241115567.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/241115567.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/241115567.md) | [English](https://longbridge.com/en/news/241115567.md)


# The S&P ended a six-day winning streak, with Google leading the decline among tech giants after a major release, Tesla rebounded strongly, and U.S. oil jumped in early Asian trading

U.S. stock market rally pauses, S&P 500 ends six-day winning streak, Google Developer Conference releases multiple models, stock price continues to decline, leading the tech giants down. Among the seven major tech companies in the U.S. stock market, only Tesla saw an increase. Demand for Japan's long-term government bonds is extremely weak, and long-term bonds in Europe and the U.S. fell together. After-hours news of Israel preparing to attack Iranian nuclear facilities boosted U.S. crude oil prices, which jumped at the opening of the Asian market.

The U.S. stock market fell on Tuesday, ending the S&P index's six-day upward momentum, with declines in large tech stocks dragging down major indices:

> -   **In early trading**, the bid-to-cover ratio for Japan's 20-year government bond auction hit a new low since 2012, and the price of Japanese long-term bonds reached a multi-year low, with the yield on 30-year Japanese bonds hitting a record high. The weak bond market exacerbated overall market uncertainty. Long-term bond yields in Europe and the U.S. generally rose.
> -   **During trading**, the three major U.S. indices opened lower collectively, with most tech stocks declining, and only Tesla among the seven major tech companies saw an increase. Musk stated he would continue as Tesla CEO for at least another five years and would not invest heavily in political elections, causing Tesla to rise initially, gaining over 3% at one point.
> -   **In the final trading minutes**, investors returned to buy on dips, narrowing the declines of the three major indices. Despite the Google Developer Conference releasing multiple AI models and launching a new AI mode search, the stock price continued to decline, leading the drop among the six major tech companies.
> 
> > 
> -   **After hours**, according to CCTV News, on May 20 local time, several U.S. officials revealed that intelligence obtained by the U.S. indicated that Israel might be preparing to strike Iranian nuclear facilities. Following the report, gold, which had risen for two consecutive days, continued to climb, with spot gold briefly surpassing $3,300. U.S. oil jumped over 2%, with WTI crude breaking through the $63 mark, quickly approaching $64.

**All three major U.S. indices fell, ending the S&P's six-day winning streak. Only Tesla among the seven major tech companies saw an increase, having risen over 3% at the beginning of trading. Musk stated he would continue as Tesla CEO for five more years. Quantum computing stock D-Wave rose nearly 26%; former silicon carbide giant Wolfspeed is preparing to file for bankruptcy, plunging 50% after hours; the China concept index fell for two consecutive days, but Xiaomi rose over 4%. Bilibili, which saw a 76% year-on-year increase in Q1 gaming revenue, initially rose nearly 7% but later gave back most of its gains.**

> **Three major U.S. stock indices:**
> 
> -   The S&P 500 index closed down 23.14 points, a decline of 0.39%, ending the previous six trading days of upward trend, closing at 5,940.46 points
>     
> -   The Dow Jones Industrial Average closed down 114.83 points, a decrease of 0.27%, at 42,677.24 points.
>     
> -   The Nasdaq closed down 72.75 points, a decrease of 0.38%, at 19,142.71 points. The Nasdaq 100 Index closed down 79.68 points, a decrease of 0.37%, at 21,367.37 points.
>     
> -   The Russell 2000 Index closed up 0.05%, at 2,105.58 points.
>     
> -   The VIX (Volatility Index) closed down 0.22%, at 18.10.
>     
> 
> **U.S. Sector ETFs:**
> 
> -   The Energy Sector ETF closed down 0.92%, the Global Airlines ETF fell 0.88%, the Internet Stock Index ETF dropped 0.63%, the Semiconductor ETF fell 0.19%, the smallest decline, while the Biotechnology Index ETF rose 1.76%.
> 
> > 
> **"Magnificent Seven":**
> 
> -   The index of the seven tech giants in the U.S. (Magnificent 7) fell 0.71%, at 160.66 points.
>     
> -   Google A fell 1.54%, Amazon dropped 1.01%, Apple, NVIDIA, Meta, and Microsoft fell up to 0.92%, while Tesla rose 0.51%.
>     
> 
> > 
> **Chip Stocks:**
> 
> -   The Philadelphia Semiconductor Index closed down 0.14%, at 4,890.78 points.
>     
> -   AMD fell 1.07%, and TSMC ADR dropped 0.03%.
>     
> 
> **AI Concept Stocks:**
> 
> -   Tempus AI fell 2.06%, Palantir dropped 0.59%, and Applovin closed down 2.04%.
> 
> **Chinese Concept Stocks:**
> 
> -   The Nasdaq Golden Dragon China Index closed down 0.65%, at 7,330.00 points.
>     
> -   Popular Chinese concept stocks such as Pony.ai rose 5.7%, Xiaomi rose 4.2%, Alibaba and NetEase rose up to 1.7%, while XPeng, WeRide, Fangdd, Nio, and Yum China fell over 1%.
>     
> 
> **Other Individual Stocks:**
> 
> -   Berkshire Hathaway Class B shares, owned by Buffett, fell 0.71%, and Eli Lilly closed down 1.07%.
>     
> -   Former silicon carbide giant Wolfspeed is preparing to file for bankruptcy, plunging 50% in after-hours trading.
>     
> 
> **The European STOXX 600 Index closed up over 0.7%, with Trump's 180-degree reversal on the New York offshore wind project causing component stock Vestas Wind Systems to rise over 14%. The German stock index continues to hit historical highs, the Italian banking index closed up about 1%, and the Danish stock index rose over 2.5%.** **Pan-European Stocks:**
> 
> -   The European STOXX 600 index closed up 0.73%, at 554.02 points.
>     
> -   The Eurozone STOXX 50 index closed up 0.51%, at 5454.65 points.
>     
> 
> **National Stock Indices:**
> 
> -   The German DAX 30 index closed up 0.42%, at 24036.11 points, marking a record closing high for four consecutive trading days.
>     
> -   The French CAC 40 index closed up 0.75%, at 7942.42 points.
>     
> -   The UK FTSE 100 index closed up 0.94%, at 8781.12 points.
>     
> 
> > 
> **Sectors and Stocks:**
> 
> -   Among Eurozone blue chips, Kering Group rose 3.97%, Banco Bilbao Vizcaya Argentaria, Bayer, BMW, and Iberdrola rose 2.27%-2.09%, entering the top five gainers.
>     
> -   Among all constituents of the European STOXX 600 index, Diploma rose 15.11%, Vortex Energy rose 14.52%, and Greggs rose 9.15%.
>     

**Short-term U.S. Treasury yields dipped slightly, while long-term U.S. Treasury yields rose by more than 6 basis points, as investors refocused on bond supply. The 30-year German bond yield rose by more than 5 basis points, and UK bond yields generally rose by more than 3 basis points.**

> **U.S. Treasuries:**
> 
> -   At the New York close, the yield on the benchmark 10-year U.S. Treasury rose by 3.76 basis points, to 4.4850%.
>     
> -   The yield on the 2-year U.S. Treasury fell by 0.82 basis points, to 3.9683%, trading within a range of 3.9958%-3.9514% during the day.
>     
> -   The yield on the 20-year U.S. Treasury rose by 6.24 basis points, and the yield on the 30-year U.S. Treasury rose by 6.67 basis points.
>     
> 
> > 
> **European Bonds:**
> 
> -   At the European close, the yield on the 10-year German government bond rose by 1.7 basis points, to 2.606%, trading within a range of 2.555%-2.627% during the day.
>     
> -   The yield on the 10-year UK government bond rose by 3.9 basis points, the yield on the 2-year UK bond rose by 3.5 basis points, the yield on the 30-year UK bond rose by 3.9 basis points, and the yield on the 50-year UK bond rose by 3.6 basis points.
>     
> -   The yield on the 10-year French government bond rose by 0.4 basis points, the yield on the 10-year Italian government bond rose by 0.5 basis points, the yield on the 10-year Spanish government bond rose by 0.8 basis points, and the yield on the 10-year Greek government bond rose by 1.9 basis points.
>     

**Options traders' bearish outlook on the dollar has reached a historic high. In recent months, as Trump's sporadic tax policies have impacted the market, sentiment towards the dollar has deteriorated, raising doubts about the predictability of U.S. policymaking and the outlook for economic growth.** The US Dollar Index approaches 100, hitting a new low in over a week; Bitcoin briefly rises over $3,000, breaking the $107,000 mark, reaching a four-month high.\*\*

> **US Dollar:**
> 
> -   At the New York close, the ICE Dollar Index fell 0.32%, reporting 100.108 points, with an intraday trading range of 100.580-100.050 points.
>     
> -   The Bloomberg Dollar Index fell 0.15%, reporting 1223.17 points, with an intraday trading range of 1226.87-1222.55 points.
>     
>     >     
> 
> **Non-USD Currencies:**
> 
> -   At the New York close, the Euro rose 0.34% against the US Dollar, reporting 1.1281.
>     
> -   The British Pound rose 0.23% against the US Dollar, reporting 1.3390.
>     
> -   The US Dollar fell 0.76% against the Swiss Franc, reporting 0.8282.
>     
> 
> **Japanese Yen:**
> 
> -   At the New York close, the US Dollar fell 0.26% against the Japanese Yen, reporting 144.90 yen.
> 
> **Offshore Renminbi:**
> 
> -   At the New York close, the offshore Renminbi reported 7.2152 against the US Dollar, down 5 points from Monday's New York close, with an overall intraday trading range of 7.2128-7.2263.
> 
> **Cryptocurrency:**
> 
> -   At the New York close, the CME Bitcoin futures main contract rose 1.35% from Monday's New York close, reporting $107,000.
>     
> -   The CME Ether futures main contract fell 0.38%, reporting $2,518.50.
>     
> 
> 
**After-hours trading in US stocks, according to CCTV News, on May 20 local time, several US officials revealed that intelligence obtained by the US indicates that Israel may be preparing to strike Iran's nuclear facilities. US crude oil jumped over 2%, strongly breaking through the $63 mark, quickly approaching around $64.**

> **Crude Oil:**
> 
> -   WTI June crude oil futures closed down $0.13, a decline of nearly 0.21%, reporting $62.56 per barrel.
>     
> -   Brent July crude oil futures closed down $0.16, a decline of over 0.24%, reporting $65.38 per barrel.
>     
> 
> **Natural Gas:**
> 
> -   NYMEX June natural gas futures rose over 10.08%, closing at $3.4270 per million British thermal units.

**Risk appetite waned, gold prices rose over 1.8% approaching the $3,300 mark, and the Philadelphia Gold and Silver Index closed up over 2.9%.**

> **Gold:**
> 
> -   In New York's late trading, spot gold rose 1.89%, closing at $3,290.52 per ounce.
>     
> -   COMEX gold futures rose 1.82%, closing at $3,292.20 per ounce, with an intraday trading range of $3,207.40 to $3,298.50.
>     
> 
> **Silver:**
> 
> -   In New York's late trading, spot silver rose 2.28%, closing at $33.1001 per ounce.
>     
> -   COMEX silver futures rose 2.35%, closing at $33.270 per ounce.
>     
> 
> **Copper:**
> 
> -   In New York's late trading, COMEX copper futures rose 0.15%, closing at $4.6775 per pound, showing a V-shaped reversal throughout the day, having dropped to $4.5855 at 15:28

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