In the early morning of the 24th, Beijing time, U.S. stocks closed sharply lower on Friday. The S&P 500 has largely given back all of this summer’s gains and is near its lowest level of the year. Investors worry that the Federal Reserve’s further tightening of monetary policy to fight inflation will tip the U.S. economy into recession. The dollar continued to appreciate sharply against other currencies. Goldman Sachs slashed its year-end target for the S&P index.
The Dow fell 486.27 points, or 1.62%, to 29,590.41 points; the Nasdaq fell 198.88 points, or 1.80%, to 10,867.93 points; the S&P 500 fell 64.75 points, or 1.72%, to 3,693.24 points.
Most popular Chinese concept stocks fell on Friday, Quhuo fell by more than 10%, Onion Group fell by more than 9%, AMTD Digital fell by more than 7%, Tuniu, Lizhi, Tiger Securities, and Wuxin Technology fell by nearly 7%. Zhiwen Group, Uxin fell more than 6%, Yixian e-commerce, Pinduoduo, Luokung Technology fell more than 5%, Zhifu Capital, Ninth City, Cheetah Mobile, Yingxi Group, Lanting Jishi, 51Talk fell more than 4%, Wei Lai, Dajian Yuncang, Kuke Music, Mavericks Electric, Douyu fell by more than 3%, Vipshop, iQiyi, Shell, Waterdrop, Huanju Group, Alibaba, JD.com, 36氪, Sohu, New Oxygen Down more than 2%, Tencent Music, Autohome, Zhihu, Bilibili and Xunlei fell more than 1%.
Mogujie and Kaixin Auto rose by more than 12%, Huafu Education rose by more than 6%, Hongen and Jianzhi Education rose by more than 4%, Lili Auto rose by more than 3%, Manbang and Danai Technology rose by more than 2%, Ctrip, Kingsoft Cloud rose more than 1%.