April 16 Market Analysis

The rising tension in the Middle East had a significant impact on US stocks. The Nasdaq Composite Index fell 1.8%, the biggest one-day decline in two months. The S&P 500 index fell more than 1% for two consecutive days, the biggest two-day decline since the Bank of Silicon Valley went out of business. The Dow fell for the sixth day in a row, and Salesforce's stock price plummeted by more than 7%.

Tesla's stock price fell 5.6% to an 11-month low, leading the decline of the “Seven Sisters” in the tech industry. Although Nvidia rose nearly 3% in early trading, it eventually closed down 2.5%. Furthermore, benefiting from a strong rebound in the investment banking business, Goldman Sachs net profit surged 28% year over year in the first quarter, and the stock price eventually closed up nearly 3%.

The US government said it did not support Israel's retaliatory attacks against Iran. Meanwhile, after the US retail sales data was released, the yield on 10-year US Treasury bonds rose by more than 10 basis points in the intraday period, breaking 4.60%, reaching a five-month high. The US dollar index also jumped to a new five-month high, while the yen continued to fall, hitting a new low since 1990.

Increased instability in the Middle East prompted investors to seek safe haven assets. Gold prices surged nearly 3% intraday, hitting a record high for the third day in a row. After experiencing fluctuations in crude oil prices, the decline narrowed somewhat. Affected by global political uncertainty, the price of Bitcoin also experienced a sharp drop, falling below $63,000 at one point.

At the same time, due to the release of the new “National Nine Rules” policy, China's A-share market generally rose, but small stocks and ST shares experienced sharp declines. The performance of China Securities in the US stock market also fluctuated. After rising in early trading, it turned down. The China Securities Index finally closed at a two-month low. The offshore renminbi rose for a while during the intraday period and recovered to the 7.26 level.

======= I am a dividing line =======

MY Moomoo account opening link