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On Wednesday (23) Apple, Amazon and Netflix led the way, tech stocks plummeted, energy stocks like Chevron also became the worst hit areas, the top four indices collectively closed in the black, all S&P sectors they were stained with blood and the Nasdaq fell 3%. , Dow Jones fell by more than 500 points.
Fed Chairman Bauer reiterated at Wednesday’s hearing that the economic rebound still has a long way to go, which may require additional financial support.
Ball said: “We need to persevere … If there is support from Congress and the Fed, the economic recovery will be faster.”
Fed officials, including Federal Reserve Vice Chairman Clarida, responded, emphasizing the need for new relief measures.
The global epidemic of new corona pneumonia (COVID-19) continues to spread. Before the deadline, according to real-time statistics from Johns Hopkins University in the United States, the number of confirmed cases worldwide has exceeded 31.6 million and the number of deaths has exceeded 971,000. The United States has confirmed more than 6.89 million cases and the cumulative number of deaths has exceeded 200,000.
The performance of the four major US stock indices on Wednesday (23):
- The US Dow Jones stock index fell 525.05 points, or 1.92%, to close at 26,763.13 points.
- The S&P 500 Index fell 78.65 points, or 2.37%, to close at 3,236.92 points.
- The Nasdaq index fell 330.65 points, or 3.02%, to close at 10,632.99 points.
- The Philadelphia Semiconductor Index fell 53.57 points, or 2.46%, to close at 2,126.69 points.
The big five tech giants declined. Apple (AAPL-US) fell 4.19%; Microsoft (MSFT-US) fell 3.29%; Amazon (AMZN-US) fell 4.13%; Alphabet (GOOGL-US) fell 3.45%; Facebook (FB-US) fell 2.25%.
Only Nike and Johnson & Johnson closed higher for the constituent shares of Dow Jones. Salesforce (CRM-US) fell 4.76%; Boeing (BA-US) fell 3.58%; Chevron (CVX-US) fell 4.74%; Disney (DIS-US) fell 3.09%.
Fei’s half-component shares were nearly all black. AMD (AMD-US) fell 3.82%; Intel (INTC-US) fell 2.26%; Micron (MU-US) was up 0.30%; NVIDIA (NVDA-US) fell 4.07%; Qualcomm (QCOM-US) fell 2.86%.
Only UMC is the only dominant ADR in Taiwan shares. TSMC ADR (TSM-US) fell 3.17%; UMC ADR (UMC-US) was up 1.40%; ASE ADR (ASX-US) fell 3.13%; Chunghwa Telecom ADR (CHT-US) fell 1.11%.
Featured Stock News
Tesla (TSLA-US) sued the US government in an attempt to repeal the tariffs imposed by the Trump administration on China. The company’s lack of battery innovation on a daily basis and a grid outage on Wednesday caused Tesla’s stock price to drop further, closing 10.34% at $ 380.36 per share.
Johnson & Johnson (JNJ-USA) launched the third phase of human trials of the vaccine, and its share price rose 0.16% to $ 144.44 per share.
E-commerce giant Shopify (SHOP-US) fell 3.77%. The company said on Tuesday (22) that part of the platform’s commercial data was stolen and a total of 200 online stores are expected to be affected.
Nike (NKE-US) was up 8.76% on Wednesday at $ 127.11 a share. Buying gasoline during the back-to-school season, and overseas demand is gradually recovering, Nike’s latest earnings performance is better than expected, the company 95 cents a share, revenue of 10.59 billion American dollars.
Witten Electronics (WDC-US) rose 6.72%, the company announced the establishment of two independent business units, focused respectively on the hard drive and flash memory business.
Economic data
- Markit Manufacturing PMI initial value in the United States in September reported 53.5, expected 52.5, previous value 53.1
- US Markit Service Industry PMI Baseline Reported 54.6, Expected 54.5, Previous Value 55.0
- The initial value of Markit’s comprehensive PMI in the US in September was 54.6 and the previous value was 54.6
Wall Street Analysis
Lauren Goodwin, an economist and multi-asset investment strategist at New York Life Investments, said the market is taking in growth expectations that investors may not be able to meet. As the US fiscal stimulus began to weaken, some of them had shaken their expectations for a slow and steady recovery.
Art Hogan, chief market strategist at National Securities, said: “The trend of transferring funds from tech stocks to cyclical stocks has strengthened in September. September has always been a difficult month and this year has been even more against it. reflects today.. “
Investors faced a number of headwinds this month, including an increase in global coronavirus cases and uncertainty surrounding the new fiscal stimulus plan in the United States.
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