There is still doubt about the Fed's interest rate path at the closing of the US stock market. The US stock market turned down at the end of the session; Westpac Bank's stock price was low after the market

On Wednesday, May 3, while awaiting the Fed's decision and future interest rate path signals, US stocks opened higher and lower. Russell small-cap stocks, which fell more than 2% yesterday, led by more than 1%. At the beginning of the session, the S&P 500 index rose as high as 0.4%, and the NASDAQ rose as high as 0.6%. The Dow and S&P declined before midday trading. The Dow fell more than 86 points or 0.3% at its deepest point, then the Dow and S&P markets turned upward again.

After the FOMC decision was announced, the rise in US stocks increased for a while, and the Dow rose more than 100 points. At the beginning of Powell's press conference, the Dow Index and S&P declined briefly, but US stocks were unable to maintain their gains at the end of the session. In the end, the US stocks were unable to maintain their gains. In the end, the main indices fell three days in a row; only Russell's small-cap stocks closed higher. S&P fell below 4,100 points, erasing nearly half of the gains since last Wednesday, along with the NASDAQ and NASDAQ 100. The Dow is close to erasing a week's gains:

$S&P 500 Index(.SPX.US)$ It closed down 28.83 points, or 0.70%, to 4090.75 points. $Dow Jones Industrial Average(.DJI.US)$ It closed down 270.29 points, or 0.80%, to 33414.24 points. $Nasdaq Composite Index(.IXIC.US)$ It closed down 55.18 points, or 0.46%, to 12025.33 points. $NASDAQ 100 Index(.NDX.US)$ Decreased by 0.6%.

The 11 S&P sectors closed down across the board. $Energy Select Sector SPDR Fund(XLE.US)$ A drop of nearly 2%, $Financial Select Sector SPDR Fund(XLF.US)$ und $Materials Select Sector SPDR ETF(XLB.US)$ A drop of more than 1%, $The Technology Select Sector SPDR® Fund(XLK.US)$ und $Consumer Staples Select Sector SPDR Fund(XLP.US)$ It fell by more than 0.8%, $Consumer Discretionary Select Sector SPDR Fund(XLY.US)$ down 0.79%, $Real Estate Select Sector Spdr Fund (The)(XLRE.US)$ down 0.63%, $Industrial Select Sector SPDR Fund(XLI.US)$ Down 0.38, $Utilities Select Sector SPDR Fund(XLU.US)$ Decreased by 0.34%, with defensive properties $The Health Care Select Sector SPDR® Fund(XLV.US)$ The 0.13% drop was the smallest drop.

Most star technology stocks turned down at the end of the session. “metaverse” $Meta Platforms(META.US)$ After a 1% increase, it turned down close to 1%, which is still not far from the highest since the end of January last year. Thursday's after-hours earnings report $Apple(AAPL.US)$ After rising 1.4%, it turned down 0.65%, falling for three days from a new high of more than eight months. $Amazon(AMZN.US)$ und $Alphabet-A(GOOGL.US)$ They are all close to erasing an increase of more than 2%. $Tesla(TSLA.US)$ Close to erasing an increase of nearly 3%, $Netflix(NFLX.US)$ The increase of 0.6% broke away from its lowest level in nearly six weeks. $Microsoft(MSFT.US)$ After rising 1%, it turned down 0.3%, falling for three consecutive days from a 13-month high.

The decline in chip stocks deepened at the end of the session. $PHLX Semiconductor Index(.SOX.US)$ It fell 1.3% and fell to its lowest level since last Thursday for two consecutive days. $NVIDIA(NVDA.US)$ After falling 2.6%, it closed down 1.5%. The revenue guide for the second quarter fell short of expectations $Advanced Micro Devices(AMD.US)$ It fell by more than 9% and stopped rising for five days to a new low of two months, but $Intel(INTC.US)$ Up 3%. $Taiwan Semiconductor(TSM.US)$ After a 1% increase, it turned down 0.3%. The media said it was in negotiations to spend up to 10 billion euros to open its first chip factory in Germany.

Most AI concept stocks rebounded. $C3.ai(AI.US)$ It rose nearly 1%, broke away from a three-month low, and fell by more than 30% in the past month. Yesterday, it fell close to 12% $BigBear.ai Holdings(BBAI.US)$ After a 5% increase, it closed up 0.4%. $SoundHound AI(SOUN.US)$ After falling nearly 6%, it closed down more than 2%, setting a new one-week low.

Bank stocks rebounded at the beginning of the session and fell sharply at the end of the session:

The Philadelphia Stock Exchange, an industry benchmark that fell 4.5% yesterday $KBW Nasdaq Bank Index(.BKX.US)$ After rising 1.5%, it fell nearly 2%, the lowest since October 2020 for two consecutive days. SPDR S&P Regional Bank ETF that fell more than 6% yesterday $Spdr Series Trust S&P Regional Bkg Etf(KRE.US)$ After rising more than 3%, it closed down nearly 2%, once again setting a new low since November 2020.

The stock indices of major banks and regional banks hit the lowest level in two and a half years

Among the “Big Four US Banks,” $JPMorgan(JPM.US)$ A drop of more than 2%, $Bank of America(BAC.US)$ 、 $Citigroup(C.US)$ und $Wells Fargo & Co(WFC.US)$ After rising about 1%, it turned down at the end of the session.

Among regional banks, Westpac Bank closed down nearly 28% yesterday $PacWest Bancorp(PACW.US)$ The highest increase was over 14%. It broke down at the beginning of the session due to excessive increases, but it closed down nearly 2%. It fell for five days to a new low since March 2009. Yesterday it fell by more than 15% $Western Alliance Bancorp(WAL.US)$ At one point, it rose 7.7%, but closed down more than 4%, falling to a new low for four consecutive weeks.

$KeyCorp(KEY.US)$ ， $Citizens Financial(CFG.US)$ und $Northern Trust(NTRS.US)$ The average turned down 2% at the end of the session, another low since 2020.
The SPDR S&P Regional Bank ETF (KRE) fell nearly 5% after the session. Alliance West Bank fell more than 20% after the session.

After several banks failed, another regional bank in the US faltered. People familiar with the matter revealed that the US regional bank PacWest Bancorp (PacWest Bancorp) has been considering several strategic options, including selling itself. People familiar with the matter said PacWest has been working with a financial advisor and is already considering a spin-off or financing. People familiar with the matter said that although it is open to the sale, the bank has not yet initiated a formal tender process. Sources said the sale did not go well because few potential buyers were interested in buying the entire bank, which includes a community bank called Pacific Western Bank and some commercial and consumer loan businesses. People familiar with the matter said that potential buyers may also need to add a large impairment loss to the loan. After the US stock market, the US Westpac Bank plummeted by more than 53%.

On Wednesday EST, US pharmaceutical giant Eli Lilly $Eli Lilly and Co(LLY.US)$ It was announced that its drug for Alzheimer's disease, Donanemab, has achieved positive results in phase 3 clinical trials. Lilly said Donanemab met all of the test goals. Among the 1,182 patients with early-stage Alzheimer's disease, compared with placebo, Donanemab was able to reduce the rate of clinical decline of patients by 35%, and the decline in patients' ability to take care of themselves on a daily basis by 40%. Nearly half of patients did not progress within 1 year of treatment with Donanemab. Lilly said it will be submitted for approval by global regulators as soon as possible, and it is expected that a listing application will be submitted to the US Food and Drug Administration (FDA) by the end of June, and is expected to be approved by the end of the year or early 2024.

According to people familiar with the matter, TSMC is in talks with partners to invest up to 10 billion euros (11 billion US dollars) to build a chip manufacturing plant in Germany. According to reports, the joint venture between TSMC, NXP, Bosch, and Infineon will have a budget of at least 7 billion euros, including state subsidies, but may eventually be close to 10 billion euros. TSMC said in an email statement to Reuters that the company is still evaluating the possibility of building a factory in Europe, but declined to comment further.

Dragged down by the weakness in the global smartphone market, $Qualcomm(QCOM.US)$ The adjusted revenue for the second fiscal quarter was 9.27 billion US dollars, down 17% from the previous year; for the third fiscal quarter, Qualcomm's guidance range was 8.18 billion to 8.90 billion US dollars, far below analysts' expectations of 9.25 billion US dollars. At one point, Qualcomm's US stock fell by more than 7.5% after the market.