Tesla shares fell 12%! Star technology companies dragged down, US stocks closed down on the first day of the new year

　　Author: Li Ailin

　　* Tesla's 2022 delivery growth misses target, shares tumble 12%

　　*Apple's market value falls below $2 trillion

　　*IMF chief warns of tougher global economy in 2023

　　On the first trading day of 2023, U.S. stocks opened higher and moved lower. Factors such as higher interest rates and high inflation continue to plague investors in the new year.

As of the close, the Dow fell slightly by 10.88 points, or 0.03%, to 33136.37 points; the S&P 500 index fell 15.36 points or 0.40%, to 3824.14 points; the Nasdaq closed at 10386.99 points, down 79.50 points, or 0.76%.

　　Last year today, the S&P 500 index hit a new closing high. Since then, the stock index has been falling all the way, with a cumulative decline of 19% in one year, the worst annual performance since the 2008 financial crisis.

Entering the new year, Wall Street has an unusually unanimous view on the outlook for U.S. stocks. Strategists generally expect that U.S. stocks will perform poorly in the first and second quarters, and the stock index may hit a new low before rebounding at the end of the year.

　　Greg Bassuk, CEO of investment company AXS Investments, said that the economic recession environment in 2023 may further suppress the performance of technology stocks, and investors will prefer value stocks, or high dividends with higher profit margins and more stable cash flows company.

　Tesla's latest delivery data falls short of expectations

　　In terms of individual stocks, Tesla's latest delivery data fell short of expectations, and its stock price plummeted 12.2%, falling to a new low since August 2020.

On the 2nd, Tesla announced the production and delivery data for the fourth quarter and the whole year of 2022. During the period, 405,000 vehicles were delivered, a record high, an increase of 31% year-on-year, but lower than analysts' expectations of 427,000 vehicles. 440,000 vehicles.

For the whole year of 2022, Tesla's total global delivery volume reached a record 1.31 million vehicles, an increase of 40% compared to 2021, failing to meet the target of a 50% increase in delivery volume, and producing a total of 1.37 million vehicles for the year.

In the fourth quarter of last year, due to repeated outbreaks, the Tesla factory temporarily shut down production. During the period, the company also provided substantial price cuts and other promotional activities in the United States, China and other regions to stimulate demand.

　　In a recent email to employees, Musk asked employees to "voluntarily" deliver as many cars as possible to customers by the end of 2022.

He also wrote not to be put off by the "crazy stock market."

In the past three months, Tesla’s stock price has fallen by 56.7%.

　　In addition, foreign media reported on the 3rd that Zhu Xiaotong, head of Tesla China, has been promoted to Tesla's global management position, responsible for managing the US factory and sales in North America and Europe.

At the same time, Zhu Xiaotong still retains the top management position of Tesla China, which means that he will be responsible for the production and delivery of all major markets of Tesla, making him the most high-profile executive of Tesla after CEO Musk.

　　Apple's stock price fell 3.7%, and its market value fell below the $2 trillion mark for the first time since May last year. Last year today, Apple's market value exceeded $3 trillion for the first time.

Foreign media reported that Apple has notified suppliers to reduce production of AirPods, Apple Watch and MacBook components, citing weakening demand.

In addition, some analysts expect iPhone shipments to decline by 22% in the fourth quarter of 2022.

　IMF predicts one-third of the world's economies may fall into recession

　　International Monetary Fund (IMF) President Georgieva warned in an interview with foreign media over the weekend that the global economy will face a more difficult year this year. It is expected that one-third of the world's economies may fall into recession, even in Countries that are not in recession will still feel as if they are.

She said the U.S. job market remains buoyant and the economy is resilient and may ultimately avoid a recession.

Europe will be hit by the conflict between Russia and Ukraine, and half of the EU countries will fall into recession.

The IMF now expects the global economy to grow by 2.7% in 2023, a slowdown from 3.2% in 2022.

　　Recession fears weighed on demand, with Brent crude oil futures falling 4.2% to $82.33 a barrel, the biggest one-day drop in three months; WTI crude oil futures fell 3.9% to $77.21 a barrel.

　　Gold prices rose to a six-month high, with spot gold hitting $1,850 an ounce and gold futures up more than 1%.

Since early November last year, financial market turmoil, rising recession expectations and increased central bank purchases have boosted demand for gold. Gold prices have risen, and analysts expect gold prices to hit new highs this year.