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U.S. Stock Market Close | The U.S. stock market faced its largest weekly decline in five years, with the Nasdaq entering a technical bear market; large Technology stocks continued to fall, with Tesla dropping more than 10%.
The S&P 500 fell nearly 6%, marking the largest decline in five years, while the Nasdaq dropped 10% over the week. The yield on two-year U.S. Treasuries plunged more than 20 basis points during the session, but was briefly erased after Powell's speech. After Powell's remarks, USD increased by more than 1%. Following Trump's signing of the TikTok waiver, Bitcoin rebounded nearly $3,000 at one point. Crude Oil Product hit a three-year low, with U.S. oil plummeting nearly 10% at one time. During the session, spot Gold fell more than 3%, while Silver futures dropped nearly 9%, and Copper fell over 9%.
Wang Xing takes action again! Zhang Chuan is transferred to an advisory role, accelerating the integration of Meituan's territory.
① Zhang Chuan wrote in his circle of friends, "Due to personal reasons, I will soon say goodbye to my full-time job at Meituan and will fight alongside my colleagues at Meituan in an advisory role. ② Wang Xing stated at the Earnings Conference for the first quarter of 2024 that he hopes to look at how to achieve better systemic efficiency between different Business Sectors from an overall perspective, especially how to achieve better collaborative efficiency between core local commerce and in-store, hotels, and tourism.
Express News | Tariff disruptions affect the market! China Concept Stocks are all down in Pre-Market Trading, with Alibaba falling over 6%.
Express News | Alibaba: On April 2, approximately 9.992 million U.S. dollars was spent to repurchase 612,800 shares.
Express News | TENCENT: On April 3, approximately 0.501 billion Hong Kong dollars were spent to repurchase 1.011 million shares, with a repurchase price ranging from 492 to 498.8 Hong Kong dollars per share.
Express News | Meituan: Starting today, subsidies for Retirement Insurance for riders will begin pilot testing.