Affected by factors such as the new crown epidemic, the conflict between Russia and Ukraine, and the prospect of the Federal Reserve raising interest rates, the US stock market fell sharply on Monday. The Dow and S&P 500 both fell by more than 1%, and the Nasdaq fell by more than 2%.
The 10-year U.S. Treasury yield rose above 2.79% on Monday, its highest level since January 2019, weighing on growth stocks.
As the market worries about pent-up crude oil demand, internationaloil priceFalling on Monday, U.S. oil and Brent oil both fell more than 4%, and energy stocks fell 3.1%, the worst performance among the 11 sectors in the S&P 500.Exxon Mobildown 3.44%,western oildown 6.28%,ConocoPhillipsdown 4.92%,BPfell 1.64%.
DNB Markets Premium OilanalystHelge André Martinsen noted that refiners in Turkey and elsewhere continued to buy Russian crude, reducing demand for oil from northwestern Europe, adding to the pressure on the market.
Market dynamics
As of the close, the Dow Jones index fell 1.19% to 34,308.08 points;NasdaqThe index fell 2.18% to 13,411.96; the S&P 500 fell 1.69% to 4,412.53.
Top stock performance
Big tech stocks all closed lower,appledown 2.55%,Amazonfell 2.16%, Meta fell 2.64%,Google-Adown 3.35%,Microsoftdown 3.94%,Netflixfell 2.21%.
New energy vehicle stocks generally fell,Tesladown 4.83%,NIOdown 1.50%,Xiaopeng Motorsdown 2.17%,ideal carDown 2.36%, Nikola fell 0.95%, Workhorse fell 1.52%, Lordstown fell 1.72%, Rivian rose 1.80%, and Lucid rose 0.14%.
Popular Chinese concept stocks rose and fell,Alibabadown 1.91%,Pinduoduodown 0.89%,Baidudown 1.27%,Weibodown 3.61%,New Orientaldown 9.56%,JD.comup 0.51%,Tencent Musicup 1.02%,IQIYIup 1.83%,Didirose 1.19%.
Benefit from domesticgameThe version number is restarted after 8 monthsgameStocks collectively strengthened,Bilibiliup 7.23%,NetEaseup 2.12%,Huyaup 2.59%,bettarose 2.42%.
Company news
【FordReached preliminary supply agreement with Australian lithium miner]
FordIt announced Monday that it had signed a preliminary agreement with Australian lithium miner Lake Resources NL, which will supply Ford with 25,000 tonnes of lithium a year through its Kachi project in Argentina. The agreement is not legally binding, and both parties are still in final negotiations on matters such as a specific delivery timetable.
【IntelSpend $3 billion to expand D1X factory]
On Monday (April 11) local time, the chip giantIntelOfficially kicked off the expansion of its D1X factory in Oregon, USA, for which the company will invest $3 billion in an effort to accelerate technology development to regain leadership in the chip industry.according toIntelAccording to Senior Vice President Sanjay Natarajan, the expansion is 270,000 square feet and will increase the size of the D1X factory by 20% when completed.
[InvestmentbankBairdhascutsharplyNvidiaTarget price】
Before the bell on Monday, ET, investment bank Baird willNvidiadowngraded to “neutral” from “outperform” and lowered its price target to $225 from $360 a share, citing concerns over order cancellations.NvidiaIt closed down more than 5 percent on Monday.
[AT&T rose 7.7% on Monday]
AT&TThe company (AT&T) completed the WarnerMedia-Discovery merger on Friday,JPMorganRated AT&T as Overweight. Boosted by this, AT&T rose 7.7% on Monday.
[DailyJournalannouncesQ1holdings:sharplyreducedholdingsAlibabaMore than 300,000 shares]
According to the United StatessecuritiesThe Exchange Commission disclosed that the Daily Journal Corp. submitted a position report for the first quarter of 2022.As of March 31, 2022, the top four holdings of Daily Journal are:Bank of America(BAC.N)、FuGuo bank(WFC.N)、Alibaba(BABA.N) JapaneseUnited Bank of America(USB.N). The Daily Journal significantly reduced its holdings of Alibaba by 302,060 shares in the first quarter, and its shareholding ratio dropped from 27.65% to 15.35%. The number of shares currently held is 300,000 shares.
[EPIC receives US$2 billion in investment to create a “metaverse” suitable for children]
On Monday (April 11) local time, the US-basedgameDeveloper Epic Games announced,sony$1 billion will be injected into the company, with LEGO parent company KIRKBI investing the same amount. Last week, Epic and Lego announced a partnership to develop a family-friendly “metaverse” for kids.
The following is a summary of important information on the global market:
overnight news
White House: Inflation expected to be ‘unusually high’ in March
Fed’s Evans: 50bps rate hike in May will be between 2.25% and 2.5%
Short-term effect of joint dumping and storage, both the United States and cloth oil both fell below the $100 mark
The domestic game version number is restarted after a lapse of August
Russian Finance Minister: If the West forces Russia into debt default, Russia will sue
Overview of the outer disk
The three major U.S. stock indexes collectively closed down, the Nasdaq fell more than 2%, and Chinese game stocks bucked the market and strengthened
Major European stock indexes were mixed
Popular Chinese concept stocks rose and fell; game stocks rose collectively, Bilibili rose more than 7%
Large U.S. stock technology stocks generally fell, Tesla fell nearly 5%, and its stock price fell below $1,000 for the first time in three weeks
(Article source: Financial Associated Press)