US stocks plummeted, with the Nasdaq 100 giving back much of its gains since the US election results were announced. What happened?
Us stocks plunged, the yen and US Treasury bonds rose, and Trump's trade saw a major reversal. Well-known financial journalist Nick Timiraos, known as the 'New American Fed Communication Agency', wrote that US stocks fell on Friday despite strong retail sales reports released earlier, suggesting that the strong performance of the US economy may not need to be supported in the form of rate cuts. In addition, some Federal Reserve officials have stated that it is too early to determine whether the Fed should cut rates at the next meeting.
U.S. stock market closes | Expectations of a substantial interest rate cut have put pressure on U.S. stocks, with the Nasdaq down over 2%, nvidia down over 3%, and Tesla rising over 3% against the trend; some Chinese concept stocks are up, with jd.com ris
Vaccine stocks, moderna, fell over 7%; applied materials dropped over 9%, dragging down chip stocks. The Chinese concept stocks rebounded, while Alibaba fell over 2% after its earnings report.
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On Friday, Tesla, the top trading volume in the U.S. stock market, closed up 3.07%, with a turnover of 36.387 billion U.S. dollars. Nvidia, ranked second, fell by 3.26%, with a turnover of 35.606 billion U.S. dollars.
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U.S. stock market early session | All three major indexes fell, disney rose more than 3% against the trend; “Trump trade” warmed up! DJT rose more than 3%, Tesla and MSTR rose over 2%.
As of the time of publication, the Dow Jones Industrial Average fell by 0.40%, the Nasdaq fell by 1.19%, and the s&p 500 index fell by 0.67%.
Wall Street tycoons warn: Powell cannot solve the problem of stagflation!
Prominent economist criticized Powell's political cowardice and stated that maintaining independence does not mean keeping silent.