U.S. stock markets opened lower on the evening of April 23, Beijing time, before paring some losses. As of 10:15 p.m. ET, the Dow Jones Industrial Average was down 0.11%, the Nasdaq Composite fell 0.44%, and the S&P 500 declined approximately 0.11%.

Most major technology stocks declined. Tesla dropped over 3% after reporting its first-quarter results and raising its 2026 capital expenditure plan by one-quarter. Meta Platforms fell more than 2%, while only Google and Apple saw modest gains.

The SaaS sector experienced a broad sell-off. Following weak results from IBM, its stock plunged 10%. Adobe fell over 8%, Oracle dropped more than 6%, and Microsoft declined over 3%.

In contrast, the Philadelphia Semiconductor Index rose nearly 2%, surpassing the 10,000-point mark for the first time in history and achieving a record-breaking 17-day winning streak. Among its components, Texas Instruments surged over 15% following its earnings report, ON Semiconductor gained more than 8%, Marvell Technology rose over 3%, and Intel advanced nearly 3%.

Lululemon's stock tumbled nearly 12% after the company announced a leadership change on the 23rd, following recent controversy over alleged carcinogenic concerns.

U.S.-listed Chinese stocks were mostly lower, with the Nasdaq Golden Dragon China Index falling over 2%. Chemical stock Dexin declined over 33%, while TAL Education Group dropped more than 10%. New Oxygen and XPeng Motors each fell over 6%. Among leading Chinese tech stocks, Alibaba and NetEase both dropped over 3%. Xiaomi, Tencent, BYD, and Pinduoduo all declined more than 2%. Defying the trend, Xiao-i Corporation saw its shares surge 33%.

In commodity markets, spot gold fell below $4,730 per ounce, while spot silver dropped over 4% intraday, currently trading at $75.6 per ounce. International oil prices experienced sharp fluctuations, rising about 1% at the time of writing. Reports indicated renewed U.S.-Iran tensions, with claims that the Strait of Hormuz had been completely blocked.