Investors faced a rough day on Monday as U.S. stocks closed with significant losses. The Dow fell more than 400 points, with technology stocks and Chinese concept stocks taking a hit. In particular, Apple dropped nearly 3%, and Tencent Music fell over 6%.
The financial world was closely watching Federal Reserve Chairman Powell’s congressional testimony and Friday’s upcoming non-agricultural data. The three major stock indexes all closed down, with the Dow leading the losses. Popular technology stocks and cryptocurrency stocks also saw declines, with Coinbase falling 5% and MicroStrategy plummeting 21%.
In addition to Apple and Tencent Music, other notable stock movements included Intel falling over 5%, Tesla dropping nearly 4%, and Microsoft falling almost 3%. On the other hand, NIO bucked the trend and rose nearly 3%.
Gold prices saw a slight increase, breaking through the important mark of $2,100 per ounce. Meanwhile, crude oil futures markets experienced declines, with both West Texas Intermediate and Brent crude oil prices falling.
Most Chinese concept stocks saw declines, with some exceptions like NIO, which managed to rise. Overall, the financial community remains cautious about the stock market’s volatility and advises investors to approach with care.
Importantly, it’s worth noting that the content, data, and tools in this article are for reference only and do not constitute investment advice. Investors should exercise caution and diligence when navigating the risky stock market.