news

cailianshe news, september 7 (edited by zhao hao)on friday (september 6), the three major u.s. stock indexes fell collectively by more than 1%, with the nasdaq falling by more than 2.5%.

as of the close, the nasdaq composite index fell 2.55% to 16,690.83 points, down more than 10% from its record high; the s&p 500 fell 1.73% to 5,408.42 points; and the dow jones industrial average fell 1.01% to 40,345.41 points.

looking at the weekly chart, the nasdaq has fallen for two consecutive weeks, with a cumulative drop of 5.77% this week, the largest single-week drop since january 2022; the s&p fell 4.25%, and the dow fell 2.93%, both of which were the largest single-week drops since march 2023, and ended three consecutive weekly gains.

analysts believe that investors continue to sell technology stocks after weak non-farm data. emily roland, co-chief investment strategist at john hancock investment management, said, "this is an emotion-driven move, mainly driven by concerns about u.s. economic growth."

roland added, “the market is wavering between two thoughts: one is ‘bad news is bad news’ and the other is ‘bad news is good news’ — as weaker data could raise expectations for aggressive fed action.”

but the idea that "bad news is bad news" has taken hold in recent days, as a string of weak data sparked concerns about the health of the economy, spooked markets and dented risk appetite.

in two weeks, the federal reserve will hold a two-day policy meeting, which means that central bank officials are close to entering a ten-day "quiet period". the market has not yet concluded the extent of the possible rate cut, and former u.s. treasury secretary lawrence summers said that the non-agricultural report has made forecasts more complicated.

hot stock performance

large technology stocks fell collectively, (arranged by market value)appledown 0.70%;microsoftdown 1.64%, the total market value fell below 3 trillion us dollars;nvidiadown 4.09%,googlec fell 4.08%,amazonfell 3.65%, meta fell 3.21%,tesladown 8.45%.

the philadelphia semiconductor index fell 4.52%, and this week it fell 12.22%. all 30 constituent stocks were wiped out.broadcomit fell 10.36%, the worst single-day performance since march 2020.tsmcdown 4.20%,asmldown 5.38%, amd fell 3.65%.

in terms of chinese stocks listed in the us, the nasdaq china golden dragon index fell 0.77%, and fell 0.83% this week.

most of the popular chinese stocks closed down.good futureit fell 4.11%, xpeng motors fell 3.28%, li auto fell 2.92%, baidu fell 2.17%, alibaba fell 1.52%, tencent music fell 1.36%, jd.com fell 1.18%, new oriental fell 0.73%, pinduoduo rose 0.67%, and nio rose 3.51%.

company news

[u.s. senator warren reportedly supports the u.s. department of justice's investigation into nvidia]

u.s. senator elizabeth warren wrote to u.s. assistant attorney general jonathan kanter on september 5, saying she supports the justice department's investigation into nvidia. "allowing one company to exert such a large influence on the research, development, and monetization of artificial intelligence would bring terrible economic risks," warren said. earlier this week, it was reported that the u.s. department of justice, which is collecting evidence of nvidia's violation of antitrust laws, sent subpoenas to the chipmaker and other companies, escalating its investigation into the technology giant. nvidia later said that nvidia had not received a subpoena from the u.s. department of justice.

[tsmc's arizona plant trial production yield is reportedly close to taiwan's domestic factories]

a person familiar with the matter revealed that the trial production yield rate of tsmc's arizona plant in the united states is similar to that of the company's domestic plant in tainan. tsmc said in an email that its arizona project "is on schedule and progressing well", but did not comment on the yield rate. according to tsmc's previous plan, its arizona wafer plant 4nm process is expected to start production in the first half of 2025.