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US stocks came under pressure due to a sharp decline in technology shares a day earlier, with four major indexes falling in early trading. At the same time, oil prices rose above $100 on concerns about the U.S.-Iran conflict and TSMC ADRs bucked the trend and rose.
The sharp decline in technology stocks a day earlier caused uneasiness among investors, and US stocks fell in early trading on the 23rd. At the same time, due to concerns of a renewed conflict between the United States and Iran, the price of West Texas crude oil also increased to more than $ 100 per barrel.
The Dow Jones Industrial Average fell 546 points, or 1%, in early trading on the 23rd;stamp 500 AndNasdaq The indices fell 0.5% and 0.3%, respectively; The Philadelphia Semiconductor index fell 0.3%;TSMC ADR rose 0.5%.
Technology giants Microsoft and Meta still showed a slight decline in early trading on the 23rd. A day earlier, many tech stocks retreated as traders assessed the impact of heavy corporate debt and rising interest rates on artificial intelligence (AI) and other technology companies.
CoreWeave is representative of these data center companies that will use heavy debt. The company’s share price fell 10% on the 22nd, and fell another 2% in early trading on the 23rd. Chip stocks rose slightly on the 23rd, with Micron and AMD each rising about 1%.
On the 23rd, the U.S. The 10-year Treasury yield rose 1 basis point to 4.966%, while the 30-year yield was flat and the 2-year yield declined 2 basis points. A day earlier, US bond yields fell sharply as investors looked to US government bonds as a safe haven.
International oil prices also increased on the 23rd, further increasing the pressure on the stock market. West Texas Intermediate crude futures rose 2.2% to $101.67 a barrel, while Brent crude futures rose 1.8% to $115.19. Media previously reported that the United States and Israel may be planning another attack on Iran and restart the regional war that has been going on since late February.
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The main reason is that after the sharp decline in technology stocks the day before, investor sentiment remained uneasy, as well as concerns about interest rates and corporate borrowing pressure, causing the Dow Jones, S&P 500, Nasdaq and the Fed to simultaneously weaken.
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West Texas crude rose above $100 a barrel and Brent also rose, reflecting concerns of renewed conflict between the United States and Iran. Rising energy costs and geopolitical risks have further increased selling pressure on the stock market.
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Microsoft and Meta still fell slightly in early trading, and CoreWave continued to fall 2% after heavy losses the previous day; But chip stocks were relatively resilient, with Micron and AMD rising about 1% each, and TSMC’s ADR also bucked the trend and rose 0.5%.
