Stock Market
The U.S. major indexes closed as follows: Dow Jones down 0.09% at 51,621.48; S&P 500 down 1.11% at 7,718.94; NASDAQ down 1.88% at 26,692.87. The latest close showed a broad risk-off tone after hotter inflation data lifted rate-hike expectations. The Nasdaq led losses, while the Dow was comparatively resilient.
Unusual-move stocks were heavily skewed toward AI and semiconductor names, with several large-cap movers posting sharp declines. NVIDIA fell 3.16% at $221.30, Advanced Micro Devices fell 5.73% at $570.82, and Oracle fell 8.83% at $130.55. CoreWeave plunged 15.46% at $65.78, while Nebius fell 10.08% at $186.01.
On the upside, SOXS rose 13.63% at $42.52, Apple gained 0.50% at $342.96, and Antelope Enterprise Holdings Limited surged 34.39% at $11.49.
Other notable movers included Yiren Digital up 42.77% at $0.65, MindForge up 14.79% at $8.85, and Kandi fell 25.73% at $0.40.
Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 5.19.
USD/CNH fell 0.0758%, at 6.72; USD/HKD fell 0.0062%, at 7.85.
U.S. Dollar Index fell 0.1560%, at 102.38.
WTI crude futures fell 0.20%, at 93.71 USD/bbl; COMEX gold futures rose 0.47%, at 4,127.20 USD/oz.
Top News
1. The Labor Department published hotter-than-expected inflation data, and markets repriced Federal Reserve rate expectations. The CPI reading showed consumer prices accelerating, with core inflation also above forecasts. The surprise pushed Treasury yields higher and weighed on rate-sensitive assets.
2. U.S. stocks retreated after inflation data and mixed earnings triggered a broad risk-off move. The Nasdaq fell the most as semiconductor shares weakened sharply. Investors also reacted to higher oil prices and a firmer dollar.
3. Advanced Micro Devices tumbled as doubts grew about the durability of the AI boom. The stock logged its largest single-day percentage drop in months. Other chip names also weakened as investors questioned demand momentum and valuation support.
4. CoreWeave bonds sold off, and the company’s shares dropped as credit stress worries intensified. Investors focused on the company’s heavy AI-related borrowing and rising default-protection costs. The move fed broader concern about financing conditions in the AI infrastructure trade.
5. Oracle fell as higher borrowing costs hit AI infrastructure names. The cloud provider has borrowed heavily to expand data-center capacity. Rising financing costs made investors more cautious about capital-intensive growth plans.
6. Bank of America disclosed a wider bond loss position after interest rates rose. The bank’s paper losses on its bond portfolio widened markedly in the quarter. It also faced pressure from a major compliance fine and a softer earnings print.
7. U.S. regulators imposed a large anti-money-laundering penalty on Bank of America. The Treasury Department and the OCC said the bank failed to properly report suspicious transactions. The enforcement action added to legal and reputational pressure on the lender.
8. Taiwan Semiconductor Manufacturing prepared to report earnings, with U.S. expansion plans in focus. Investors are watching whether the chip maker confirms a second U.S. manufacturing hub in Texas. The company’s investment roadmap remains central to the AI supply chain.
9. Charles Schwab was set to report results, with asset gathering in focus. Analysts expect profit growth supported by strong client inflows and trading activity. The company’s recent asset-collection performance has been a key driver of attention.
10. Ukraine reported problems with Starlink service and U.S. satellite warnings, highlighting dependency on American systems. Officials said the disruptions affected battlefield communications and early-warning capabilities. The episode underscored Europe’s limited ability to replace U.S.-provided space infrastructure quickly.
Sources: Reuters, Dow Jones, Tiger Newspress, public market dataDisclaimer: This content is for reference only and does not constitute investment advice.