GuShiio.com ① Hot Chinese stocks were mixed, with the Nasdaq China Golden Dragon Index down 0.77%;
② The American lunar lander “Athena” landed on the moon but did not stand upright;
③OpenAI and Oracle accelerate the Stargate project;
④ The EU discusses the star chain alternative plan.
Financial Union, March 7 (Editor Niu Zhanlin)On Thursday, the three major U.S. stock indexes fell sharply. Trump made some concessions on the controversial tariff policy, but failed to calm investors ‘nervousness.
The Nasdaq Composite Index has fallen more than 10% from its record high on December 16, officially entering a correction range. The S & P 500 briefly fell below its 200-day moving average during intraday trading, the first time since November 2023.
Trump signed amendments to tariffs on Mexico and Canada that day, exempting products that comply with the US-Mexico-Canada Agreement from tariffs until April 2. However, the news did not give the market the same upward momentum as the previous trading day, as uncertainty surrounding the policy continued to intensify.
After U.S. Treasury Secretary Basent expressed his support for imposing tariffs, markets began to question whether the White House would continue to compromise in the future. Recently, the frequent statements made by U.S. government officials and the frequent changes in Trump’s tariff policy have made investors feel tired.
Mark Malek, chief investment officer at SiebertNXT, said: “Unfortunately, the fog of market chaos is growing. What we receive is all kinds of contradictory information. The U.S. government’s tariff policy changes frequently, making it difficult for the market to form consensus expectations.”
Basent also called Canadian Prime Minister Trudeau a “fool” and said the government was more concerned about ordinary people than Wall Street. He also warned that Trudeau’s tough stance towards the United States would lead to higher tariffs on Canadian imports.
Chris Low, an analyst at FHN Financial, pointed out: “As trade policies are introduced, challenged, revised, and then repeated again, volatility seems to be the only certainty factor.”
In addition, large fluctuations in U.S. stocks no longer attract “bargain hunting” investors as in the past, because this strategy seems to have failed in recent days.
Philadelphia Fed President Huck said on the same day that the U.S. economy is currently in good shape, but it shows signs of pressure in the consumer sector, and the inflation outlook is at risk, and trouble may be brewing.
market dynamics
At the close, the Dow fell 427.51 points, or 0.99% to 42,579.08 points; the Nasdaq fell 483.48 points, or 2.61% to 18,069.26 points; the S & P 500 Index fell 104.11 points, or 1.78%, to 5,738.52 points.
Most U.S. stock industry ETFs fell. Semiconductor ETFs closed down 4.19%, Internet index ETFs fell 4.16%, global aviation industry ETFs, global technology index ETFs, technology industry ETFs, optional consumer ETFs, and utilities ETFs fell 2.96%-2.08%, the daily consumer goods ETF closed up 0.18%, and the energy industry ETF rose 0.3%.
Most of the 11 S & P sectors fell, with the optional consumer sector falling nearly 3%, the real estate, technology, telecommunications, and utilities sectors falling at most 2.7%, and the energy sector rising 0.5%.
Performance of hot stocks
Large technology stocks generally fell, with Nvidia down 5.74%, Tesla down 5.61%, Meta down 4.35%, Amazon down 3.68%, Microsoft down 1.03%, Google A down 0.39%, and Apple down 0.17%.
Maiwell Technology fell nearly 20%, after the company’s performance forecast was disappointing. They had expected artificial intelligence to drive the company’s performance to achieve stronger growth.
Popular Chinese stocks were mixed, with the Nasdaq China Golden Dragon Index down 0.77%. Dingdong grocery shopping rose by more than 13%, Krypton rose by more than 4%, Xiaopeng Automobile rose by more than 2%, Wenyuan Zhixing fell by more than 10%, and Ideal Automobile fell by more than 3%.
company news
[The US lunar lander “Athena” landed on the moon but did not stand upright]
The lunar lander “Athena” developed by the American company “Intuition Machines” landed on the moon at around 12:30 on the 6th local time. The company’s CEO said they believed Athena failed to stand upright. According to NASA, at about 19:16 EDT on February 26, the “Athena” lander was launched from the Kennedy Space Center in Florida aboard the Space Exploration Technology Corporation’s “Falcon 9” rocket. NASA subsequently confirmed that the lander was separated from the rocket, and that the former entered a predetermined orbit and continued to fly towards the moon. About a week after flying, the lander is expected to land in a crater near the moon’s south pole on March 6.
[OpenAI and Oracle accelerate the Stargate project]
OpenAI and Oracle plan to begin deploying hundreds of thousands of powerful AI chips from Nvidia to a new large data center in Abilene, Texas in the next few months, part of their $100 billion Stargate infrastructure project’s first facility up and running. According to people familiar with the matter, by the end of 2026, the data center is expected to install 64,000 Nvidia’s highly sought after GB200 semiconductor chips. The person said that the chips will be installed in multiple halls of the data center in stages, and the first batch of 16,000 chips is planned to be deployed before this summer.
[EU discusses star chain alternative plan]
French communications satellite company Eutelsat Communications SA recently confirmed that it is stepping up negotiations with the European Union on a project to replace SpaceX as the United States reduces its support for Ukraine. Eva Berneke, CEO of EutelSat, said in an interview with the media on Thursday local time,”Everyone is asking us this question today, and we are indeed thinking about it.” Berneke said the company is already working in Ukraine, where it currently has thousands of terminals, but not all terminals are connected to the network. She added that the company was negotiating with suppliers to provide military-grade and standard terminals and that it would take “several months” to provide 40,000 terminals-about the number of starlink terminals used in Ukraine.
