Home » US Stock Indexes Close Down as Technology Stocks and Chinese Concept Stocks Fall

US Stock Indexes Close Down as Technology Stocks and Chinese Concept Stocks Fall

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Major US Stock Indexes Close Down as Technology Stocks and Energy Stocks Fall

On September 20, the three major US stock indexes experienced a collective decline, according to Securities Times. The Dow closed down by 0.22% at 34,440.88 points, while the S&P 500 dropped by 0.94% to 4,402.20 points. The Nasdaq reported a significant decline of 1.53%, ending the day at 13,469.13 points.

The technology sector witnessed a sharp decline, with several large tech stocks experiencing notable losses. Intel fell by 4.54%, Google A dropped over 3%, and Nvidia experienced a nearly 3% decline. Other major technology companies such as Netflix, Microsoft, and Apple also saw their stocks fall by over 2%. Similarly, Amazon, Facebook parent company Meta, and Tesla experienced declines of more than 1%.

Energy stocks also faced a downturn, with Occidental Petroleum and Devon Energy falling by more than 2%. ConocoPhillips witnessed a decline of over 1%, while Exxon Mobil, BP, Shell, Chevron, and others experienced slight decreases.

Chinese concept stocks, which are popular among investors, also faced a downward trend. Xpeng Motors witnessed a decline of over 6%, Pinduoduo dropped nearly 4%, and NetEase and iQiyi saw declines of almost 3%. Other companies, including Vipshop, Tencent Music, Alibaba, Bilibili, New Oriental, and Baidu, experienced falls of over 1%. JD.com, Ctrip, and Weibo also saw slight declines. Nevertheless, Weilai experienced a rise of more than 3%, Beike rose over 2%, and Li Auto witnessed a slight increase.

On the same day, the Federal Reserve made an announcement regarding the pace of interest rate increases. It stated that the federal funds rate target would remain unchanged within the range of 5.25% to 5.50%. However, the resolution left room for the possibility of future interest rate increases, indicating that most FOMC members expect another rate hike this year. Policymakers also anticipate a reduction in the degree of easing next year.

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Securities Times emphasizes the importance of accurate information. The content provided in the article is for reference only and should not be considered as substantive investment advice. Investors are advised to proceed with caution and assume their own risks.

For real-time updates on the stock market trends, policy information, and wealth opportunities, readers are encouraged to download the official “Securities Times” app or follow the official WeChat account.

Disclaimer: This article was created by an AI assistant and may not accurately reflect actual news events or provide investment advice.

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