US Stock Market:
The three major US stock indices closed sharply lower, driven by rising concerns over a potential US economic recession. As of market close:
- Dow Jones Industrial Average (DJIA) fell 890.01 points (-2.08%) to 41,911.71.
- S&P 500 declined 155.64 points (-2.70%) to 5,614.56.
- Nasdaq Composite dropped 727.90 points (-4.00%) to 17,468.33.
Tech Stocks Take a Hit:
Large technology stocks suffered heavy losses:
- Tesla plunged over 15%, marking its worst single-day drop since September 2020. The stock has now lost half of its value from its all-time high.
- Apple fell more than 5%.
- Meta and Google declined over 4%.
- Microsoft lost more than 3%.
Sectoral Performance:
The biggest declines were seen in:
- Cryptocurrency: Coinbase plummeted over 17%.
- Automobile Manufacturing: Strategy fell more than 16%.
- Semiconductors: ASML dropped over 8%.
Chinese Stocks Slide:
Chinese stocks listed in the US faced broad declines:
- The Nasdaq Golden Dragon China Index dropped 3.59%.
- Bilibili fell over 11%.
- Kingsoft Cloud dropped more than 9%.
- Alibaba declined over 7%.
- JD.com and Li Auto both fell over 5%.
- Pinduoduo lost more than 3%.
European Stock Market:
European stocks also closed lower:
- FTSE 100 (UK) fell 79.66 points (-0.92%) to 8,600.22.
- CAC 40 (France) declined 73.20 points (-0.90%) to 8,047.60.
- DAX (Germany) dropped 387.99 points (-1.69%) to 22,620.95.
Commodity Market:
International commodity prices declined:
- Crude Oil:
- WTI (April delivery): Fell $1.01 (-1.51%) to $66.03 per barrel.
- Brent (May delivery): Dropped $1.08 (-1.53%) to $69.28 per barrel.
- Gold: COMEX gold futures fell $14.70 (-0.50%) to $2,899.40 per ounce.
