Lates News

On Friday, the three major U.S. stock indexes opened lower, with technology stocks across the board falling. The Philadelphia Semiconductor Index fell more than 20% from its historical closing high, possibly confirming a bear market. SK Hynix ADR fell below its IPO price of $149 for the first time. SpaceX's stock price fell 38% from its peak, causing its market value to evaporate by about $1 trillion from the peak. AMD fell more than 7%, Intel fell more than 6%, and TSMC fell more than 5%. Some analysts believe that this continued pullback in chip stocks has surpassed fundamental factors and is more influenced by capital style shifts and market preference changes. Additionally, Federal Reserve Chairman Powell's dissatisfaction with inflation at the hearing has increased the market's expectations for rate hikes, and signals from other Fed officials have further exacerbated market nervousness. Logan from the U.S. has explicitly called for rate hikes; Schmid from the U.S. warned that the risk of further acceleration in inflation in the coming months still exists. In terms of geopolitics, the outlook for a U.S.-Iran war remains unclear, impacting market risk appetite.