U.S. stocks closed down across the board: the Nasdaq fell more than 2%, and popular Chinese concept stocks fell sharply

　　China-Singapore Jingwei, March 12. The three major U.S. stock indexes closed down across the board, and tensions between Russia and Ukraine continued to weigh on market sentiment.

　　Source: Wind

　　As of the close, the Dow fell 229.88 points, or 0.69%, to 32,944.19 points; the Nasdaq fell 286.15 points, or 2.18%, to 12,843.81 points; the S&P 500 fell 55.21 points, or 1.30%, to 4,204.31 points.

　　Markets have been volatile in recent weeks amid ongoing tensions in Russia and Ukraine.

This week, the Dow fell 1.99%, the S&P 500 fell 2.88%, and the Nasdaq fell 3.53%.

　　U.S. stocks fell across the board on Friday, with Apple down 2.39%, Amazon down 0.88%, Netflix down 4.61%, Google down 1.93%, Meta Platforms down 3.89%, and Microsoft down 1.93%.

　　Bank stocks generally fell, with JPMorgan Chase down 2.28%, Goldman Sachs down 0.87%, Citigroup down 1.33%, Morgan Stanley down 0.83%, Bank of America down 0.84%, and Wells Fargo down 1.06%.

　　Popular Chinese stocks fell sharply, Didi Chuxing fell 43.93%, Fogcore Technology fell 36.54%, Tuya Smart fell 32.32%, Lexin fell 26.51%, Manbang Group fell 25.86%, Elite Education fell 24.35%; Tan Ocean Industry rose 17.73%, Anpaike rose 15.74%, Singularity Future rose 9.63%, O.R.G. Seed rose 7.93%, and Asian Times rose 7.32%; Zhonggai new energy auto stocks fell across the board, and Weilai Automobile fell 9.51 %, Xiaopeng Motors fell 12.12%, and Ideal Motors fell 14.7%.

　　In addition, airline stocks were weak, Boeing fell 1.22%, American Airlines fell 1.27%, Delta Airlines fell 1.46%, Southwest Airlines fell 1.93%, and United Airlines fell 0.94%.

　　Crude oil futures ended higher on Friday, with West Texas Intermediate (WTI) for April delivery at $3.31, or 3.1%, to settle at $109.33 a barrel on the New York Mercantile Exchange.

WTI crude fell about 5.5% this week, according to the most active contract.

　　CITIC Securities said that at present, inflation in the United States continues to rise and the economic growth rate is slowing down. It is expected that due to geopolitical conflicts and continued supply bottlenecks, the inflation pressure caused by supply-side restrictions will still be high this year, but the Fed is not expected to tighten too aggressively.

At present, it is more appropriate for the Fed to start continuous tightening as soon as possible to suppress inflation growth.

(Sino-Singapore Jingwei APP)

(The opinions in this article are for reference only and do not constitute investment advice. Investment is risky, and you need to be cautious when entering the market.)