AI summary
Summary of article:
Huida’s market value fell below US$4 trillion, causing the chip stock to weaken. US stocks were mixed on the 13th. Amidst the fluctuations in oil prices and bond markets and the pressure on Bitcoin, the market is still paying attention to the Fed’s interest rate hike and HUDA’s financial report.
Chip stocks sell off, Nvidia’s market cap closes below $4 trillion.US stocks There were mixed gains and losses on the 13th, but the three major indexes still rose on a weekly basis.
The Dow Jones Industrial Average rose 50.46 points, or 0.1%, to 52,347.55. The S&P 500 index fell 30.73 points, or 0.4%, to 7,561.67; The Nasdaq Composite index, dominated by technology shares, fell 229.82 points, or 0.91%, to 25,136.27.
CEO from HuidaJen-Hsun Huang His resignation led to a series of shocks ranging from high oil prices and a selloff in government bonds that led to a stock market decline. Huang Renxun’s extramarital affair scandal continues to spread, and Huida’s stock price has fallen again, which has also attracted more attention to the company’s third quarter financial report to be announced on the 17th. Investors are debating whether the controversy surrounding the chip giant’s former leader will impact the overall AI craze fueled by Huida.
Chip stocks fell broadly, with Advanced Micro Devices (AMD) and Broadcom (BROADCOM) falling.
Oil prices were stable, market pressure eased slightly after the bond market began selling following the surge in oil prices on the 12th. As traders prepared for the Federal Reserve (Fed) to raise interest rates in December, the 10-year US Treasury bond yield hit a high of 5.17% on the 13th, a new high since October.
The market’s risk aversion also put pressure on Bitcoin, with the world’s largest cryptocurrency falling below $70,000 on the 13th, the first time in the past three months.
In terms of economic data, the Producer Price Index (PPI) showed that wholesale prices rose by a monthly 0.3% in October, less than the 0.4% expected by economists; However, the annual growth rate was 6.5%, highlighting sustained inflation pressures, and the Fed may still raise interest rates as planned next month.
Summary FAQ
-
Because Huida is the main indicator stock of AI and chip groups, the decline in market value has led investors to adjust related holdings, causing AMD, Broadcom and other chip stocks to weaken together, resulting in the Nasdaq and S&P 500 indexes falling.
-
The Dow Jones Industrial Average rose 50.46 points to close at 52,347.55; The S&P 500 index fell 30.73 points to 7,561.67; The Nasdaq Composite Index fell 229.82 points to 25,136.27.
-
Investors are paying attention to HUIDA’s third-quarter financial report released on the 17th and whether the Fed will raise interest rates as expected next month; Additionally, oil prices, government bond yields and inflation data may continue to influence the trend of risk assets.
