U.S. Stocks Close Lower as Nasdaq Falls, Chinese Concept Stocks Decline
On February 29, U.S. stocks closed slightly lower with the Nasdaq falling nearly 100 points. Most Chinese concept stocks also experienced losses, with Baidu falling more than 8% and JD.com falling more than 5% after releasing their financial results.
Investors were closely monitoring GDP data and corporate financial reports while awaiting the release of the PCE inflation report later in the week. The Dow Jones Industrial Average fell by 0.06%, marking its third consecutive day of losses. The S&P 500 also fell by 0.15%, while the Nasdaq dropped below the 16,000-point mark.
Tech stocks and Chinese concept stocks saw significant declines, with Arm, Google, Nvidia, Intel, Xpeng Motors, Bilibili, Weilai, and others all experiencing drops in their stock prices. On the other hand, Vipshop saw a notable increase after their results were released.
The U.S. stock market showed mixed results throughout the day, with the Dow Jones Index closing at 38,949.02 points, the S&P 500 at 5,070.78 points, and the Nasdaq Composite Index at 15,947.74 points.
In addition to stock market movements, other financial assets also saw changes in value. Spot gold prices fell slightly, while oil futures for both WTI and Brent crude saw declines. Popular Chinese concept stocks fluctuated, with some experiencing significant gains while others faced notable losses.
The financial world continues to watch the market closely, with experts warning of the risks involved in investing. It is important for individuals to exercise caution and seek professional advice before making any investment decisions.