Home » The three major U.S. stock indexes collectively fell, with the Nasdaq falling more than 1% _ Oriental Fortune Network

The three major U.S. stock indexes collectively fell, with the Nasdaq falling more than 1% _ Oriental Fortune Network

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The three major U.S. stock indexes collectively fell, with the Nasdaq falling more than 1% _ Oriental Fortune Network

Stocks Fall as Tech Giants Lead the Decline

On Tuesday, the three major U.S. stock indexes saw a collective decline in Eastern Time trading. The Dow fell 0.30%, the Nasdaq fell 1.01%, and the S&P 500 fell 0.39% at press time.

The drop was largely attributed to the decline in most large technology stocks. Intel fell more than 3%, while Tesla and Apple fell more than 2%. Microsoft and Amazon also saw declines of more than 1%. The only exception was Nvidia, which saw a slight rise in its stock price.

One notable tech company that experienced a decline was AMD. Reports suggested that the U.S. government had deemed AMD’s sales of “customized AI chips” to China as “too powerful” and had encountered obstacles in its export efforts.

Meanwhile, global news analysts are questioning the sustainability of the current rally in U.S. stocks. Deutsche Bank warned that if history serves as a guide, the current surge in stock prices could potentially be a bubble.

In other news, the cryptocurrency market saw significant inflows of capital in the past 30 days, with enthusiasm from investors driving up prices. However, concerns remain over the potential for illegal activities such as money laundering and fraud in the crypto market.

Gold prices continued to rise, with the COMEX April gold futures closing above $2,100. Investor Dan Bin sparked a debate by posing the “five-year question” on which asset classes, including gold, Bitcoin, and tech stocks, would be most valuable in the future.

In the company news sector, AMD faced challenges in selling its AI chips to China, while Tesla’s production was halted due to a suspected arson attack at its factory in Germany. Apple also launched a new MacBook Air model equipped with the latest M3 chip, marking its entry into the AI PC competition.

Overall, the stock market experienced a turbulent day with tech giants leading the decline. Investors continue to monitor the market closely as uncertainties persist in various sectors. Source: Oriental Fortune Choice data.

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