U.S. Stock Diary | Three indexes fell for two days in a row, Nvidia closed down (Spencer Platt via Getty Images)
The three major U.S. stock indexes fell for the second consecutive day, with the Dow Jones Industrial Average falling 190 points and the Nasdaq Composite Index falling nearly 1%. Data on rising inflation released one after another this week have made investors worried that interest rate cuts will be postponed or the number of interest rate cuts will be reduced. The interest rate on the U.S. 10-year Treasury note rose 20 points a week. Technology stocks came under pressure. Among large technology companies, Microsoft and Amazon suffered the largest declines, exceeding 2%.
Real-time quotations of U.S. stocks and foreign currencies, multi-country news
Market conditions on March 15 (Friday)
l The Dow Jones index fell 190.89 points, or 0.49%, to 38,714.77 points.
l The S&P 500 index fell 33.39 points, or 0.65%, to 5,117.09 points.
l The Nasdaq index fell 155.36 points or 0.96% to 15,973.17 points.
l New York oil futures for April delivery closed at US$81.04 a barrel, down US$0.22 or 0.27%.
l New York April gold futures closed at $2,161.5 an ounce, down $5.7 or 0.28%.
l The U.S. 10-year Treasury bond yield closed at 4.304%, up 0.6 points.
Technology stocks generally fell, with Microsoft and Amazon falling more than 2% each, and the stock price of Google parent company Alphabet also falling more than 1%. Nvidia and Apple fell slightly by 0.1% and 0.2%. Tesla, which has been weak recently, rebounded 0.7%.
On a week-to-week basis, the performance of technology stocks was relatively mixed, dragging down the market’s weakness. The Dow and S&P 500 fell slightly by 0.02% and 0.13%, while the Nasdaq, which is dominated by technology stocks, fell by 0.7%. NVIDIA, which has led the market to rise recently, rose only 0.35% in a week, while Tesla, the largest decliner among the seven technology giants, fell 6.7%.
After a series of data released this week showed that inflation appeared to be unable to continue falling, investors remained highly vigilant and worried that the pace of interest rate cuts would be further delayed.
The U.S. 10-year Treasury bond interest rate rose by about 20 basis points this week, and the Federal Reserve will begin a two-day interest rate meeting on March 19.
According to the CME FedWatch tool, the market expects a 99% chance that the Federal Reserve will keep interest rates unchanged at next week’s policy meeting.
Bank of America strategist Michael Hartnett cited data from EPFR Global in a report. As of the week of March 13, U.S. stock funds had $56 billion in capital inflows, and technology stocks were the stocks with the largest capital inflows among all sectors, reaching 68 billion. billion and rebounded from record outflows. Hartnett believes that the macro situation is changing from a just-in-time scenario to stagflation, but investors are still ignoring this risk. “A new round of stagflation means better-than-expected performance of gold, commodities, cryptocurrencies, cash, a sharp steepening of the interest rate curve, and a bias towards resources.” and defensive stocks.”
In terms of data, the University of Michigan released a consumer confidence survey. The consumer survey index was 76.5, down 0.4 percentage points from February and lower than the expected 77.4.
2024-03-15 20:46:51
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