U.S. Semiconductor Stocks Plunge Late at Night, SanDisk Drops Over 6%, Chinese Equities Widespread Decline, Pony AI Plummets 14%

Deep News
Mar 26

On March 26, the three major U.S. stock indices opened lower collectively, followed by a brief uptick, with the Dow Jones Industrial Average turning positive first. As of the latest update, the Dow was up 0.1%, while the Nasdaq Composite fell 0.64%, and the S&P 500 declined 0.38%.

Most large-cap technology stocks declined. NVIDIA and Google dropped over 1%, while Tesla fell 0.7%. Facebook's stock hit its lowest level since May 2025, recently down 2.8%, following news that the company, along with Google, lost a lawsuit related to social media harm to teenagers.

Chip stocks saw broad declines, with the Philadelphia Semiconductor Index dropping 2.45%. The memory chip sector led the losses, with SanDisk Corp. falling over 6%, and Micron Technology, Western Digital, and Seagate Technology each declining more than 4%. Additionally, ASML and Taiwan Semiconductor Manufacturing Company fell over 3%, while Intel and Advanced Micro Devices dropped more than 2%.

Regarding U.S.-listed Chinese stocks, the Nasdaq Golden Dragon China Index decreased by 1.47%. Several popular Chinese equities declined, with Pony AI Inc plunging over 14%. XPeng Motors and Sohu fell more than 4%, while Alibaba, Bilibili, and Baidu Group each dropped over 2%.

Spot gold fell over 1.3% intraday, last trading at $4,453 per ounce. Spot silver saw its losses narrow to 3%, last quoted at $69 per ounce.

In international oil markets, both WTI and Brent crude rose over 3%. WTI crude was priced at $93.5 per barrel, while Brent crude reached $101 per barrel.

Major cryptocurrencies continued to decline, with Bitcoin falling over 2.67% to $69,542. Over the past 24 hours, nearly 90,000 traders faced liquidations.

According to the latest reports from CCTV News, it was learned on the 26th local time that Iran had formally responded through intermediaries the previous night to the U.S.-proposed 15-point ceasefire plan. Informed sources revealed that Iran explicitly stated in its response that hostile and terrorist acts by the adversary must cease; objective conditions must be created to ensure the war does not recur; a clear commitment to compensate for war losses must be made and implemented; and actions must be taken to end operations by all resistance groups involved in the conflict across various fronts and regions. Iran emphasized that its sovereignty over the Strait of Hormuz is a natural and legitimate right, not subject to change, and that the other party must recognize and fulfill its commitments. These conditions differ significantly from the demands Iran presented during the second round of negotiations in Geneva.

Separately, according to Xinhua News Agency, U.S. President Trump again threatened Iran regarding the ceasefire negotiations on the 26th, stating that Iran "had better get serious quickly, or it will be too late."

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