On Friday, US time, the major stock indexes of US stocks closed down across the board because of the disappointing November employment report released by the US Department of Labor. Affected by the Omi Keron strain, the trend of US stocks this week is like a roller coaster. The Dow Jones Index closed at 34580.08 points, down 59.71 points, a decrease of 0.17%, and fell more than 300 points during the session; the S&P 500 index closed at 4,538.43 points, a decrease of 0.84%; the Nasdaq Composite Index closed at 15,085.47 points, a decrease of 1.92 %.
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Technology stocks were one of the sectors that suffered the most on Friday. Large technology stocks generally fell. Apple, Amazon, Microsoft and Meta (Facebook) all fell more than 1%, and Netflix shares fell more than 2%.
Leading chip stocks generally fell. Nvidia and AMD fell more than 4%, and TSMC fell nearly 2%.
Electric vehicle stocks generally fell, Tesla fell 6.42%, Rivian fell 5.51%, Faraday Future fell 13.22%; Weilai fell 11.19%, Xiaopeng fell 9.30%, ideal fell 15.95%.
China’s e-commerce stocks generally fell, Alibaba fell 8.23%, JD.com fell 7.71%, and Pinduoduo fell 8.16%.
China’s online education stocks generally fell, NetEase Youdao fell 17.69%, Gaotu fell 12.18%, New Oriental fell 9.22%, and Good Future fell 8.78%.
Other popular Chinese concept stocks generally fell. Among them, Didi fell 22.18%, Douyu fell 11.33%, Manbang fell 8.92%, Zhihu fell 8.76%, Baidu fell 7.77%, Bilibili fell 7.15%, BOSS direct hire fell 6.62%.
The reason why Chinese concept stocks listed in the U.S. plummeted was because on December 2 local time, the U.S. Securities and Exchange Commission (SEC) announced the passage of an amendment to regulations requiring Chinese companies listed in the U.S. to disclose more information. In addition, Didi announced on Friday Beijing time that it will delist from the New York Stock Exchange and plan to list in Hong Kong.
Specifically, the major technology stocks in the U.S. stock market performed as follows:
The performance of the major chip stocks in the U.S. stock market is as follows:
The performance of the main Chinese concept stocks listed in the U.S. are as follows:
Ryan Detrick, chief market strategist at LPL Financial, a U.S. investment agency, said: “The uncertainty regarding the Omi Keron strain is high, coupled with disappointing employment data, investors decided to spend the weekend Before selling the stocks in hand.”
The November Employment Report released by the U.S. Department of Labor showed that employment growth in the United States last month was lower than expected. The number of non-agricultural employment in the United States increased by only 210,000 in November, far below the 573,000 predicted by Dow Jones survey economists.
However, the unemployment rate in the United States dropped sharply to 4.2% in November, better than the expected 4.5%.
As investors continue to digest the news about the Omi Keron strain and its impact on investors, the trend of US stocks on Friday continued the previous high volatility. Five states in the United States have found cases of Omi Kiron strain, and the symptoms reported so far are mild.
Although the Dow rebounded on Thursday, rising by more than 600 points, the index has fallen by 0.9% this week. The S&P 500 Index fell 1.2% this week, and the Nasdaq Composite Index fell 2.6%.
Barclays Bank told customers on Friday to stick to the end and buy on dips.
The bank’s analyst Emmanuel Cau said: “We still believe that the overall macro environment and liquidity conditions are beneficial to the stock market, and we recommend buying on dips. The bull market is expected to continue.” (Liu Chun)
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