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The Nasdaq plunged into correction and recorded its worst weekly performance since March 2020 | Anue Juheng – US stocks

Wall Street panic spread on Friday (21st), VIX surged more than 12%, 10-year U.S. Treasury yields rose, Bitcoin broke the $38,000 mark, Netflix’s earnings report was disappointing, its stock price collapsed more than 21%, technology The sell-off of stocks further deteriorated. The Nasdaq closed 2.72% in the final black, deep in the correction zone, Feihan fell by more than 1.7%, and TSMC ADR fell by nearly 3%.

The Nasdaq fell 7.55% this week, its worst weekly performance since March 2020, and the Dow Jones fell 4.6%. The S&P lost 5.7% this week, its worst since October 2020.

WASHINGTON (Reuters) – U.S. President Joe Biden on Friday urged Congress to pass a chip bill that would provide $52 billion to boost U.S. semiconductor production, and U.S. House Speaker Nancy Pelosi said on Friday the bill was very close to being ready .

IMF chief Kristalina Georgieva said a Fed rate hike could “splash cold water” on already weak economies in some countries, with rising inflation, the coronavirus pandemic With risks such as high debt levels, the global economy in 2022 is like an obstacle course.

Before the deadline, according to data from Johns Hopkins University in the United States, the number of confirmed cases worldwide has exceeded 344 million, and the number of deaths has exceeded 5.58 million. More than 9.87 billion doses of vaccines have been administered in 184 countries worldwide.

The performance of the four major U.S. stock indexes on Friday (21st):

  • The Dow Jones Industrial Average fell 450.02 points, or 1.3 percent, to 34,265.37.
  • The Nasdaq lost 385.1 points, or 2.72 percent, to end at 13,768.92.
  • The S&P 500 lost 84.79 points, or 1.89%, to end at 4,397.94.
  • The Philadelphia Semiconductor Index fell 60.0 points, or 1.72 percent, to 3,434.8.
Among the 11 major S&P sectors, only consumer staples outperformed, with communications services, consumer discretionary and materials sectors leading the decline. (Image: finviz)

Focus stocks

The five kings of science and technology fell endlessly. Apple (AAPL-US) fell 1.28%; Meta (formerly Facebook) (FB-US) fell 4.23%; Alphabet (GOOGL-US) fell 2.22%; Amazon (AMZN-US) fell 5.95%; Microsoft (MSFT-US) ) fell 1.85%.

Dow Jones components closed in the dark. Disney (DIS-US) fell 6.94%; Boeing (BA-US) fell 4.09%; Visa (V-US) fell 3.93%; Cisco (CSCO-US) fell 2.41%; McDonald’s (MCD-US) rose 0.58%.

Half of the constituent stocks continued to fall. Applied Materials (AMAT-US) fell 2.94%; AMD (AMD-US) fell 2.53%; NVIDIA (NVDA-US) fell 3.21%; Intel (INTC-US) was flat; Micron (MU-US) fell 3.69%; Qualcomm (QCOM-US) fell 0.94%.

Only Chunghwa Telecom is the strongest in Taiwan stock ADR. TSMC ADR (TSM-US) fell 2.96%; ASE ADR (ASX-US) fell 4.14%; UMC ADR (UMC-US) fell 2.25%; Chunghwa Telecom ADR (CHT-US) rose 0.12%.

Corporate News

Netflix (NFLX-US) closed 21.79% lower at $508.25 per share, marking its worst day since July 2012. Morgan Stanley, KeyBanc, Barclays and other investment banks all downgraded Netflix’s stock ratings due to Netflix’s latest earnings report revealing slowing subscription growth and worse-than-expected financial forecasts. Upgrade to “Hold”.

Other companies with streaming media also fell at the same time, with Disney (DIS-US) down 6.94%, Viacom (VIAC-US) down 7.35%, and Discovery (DISCA-US) down 4.73%.

Apple (AAPL-US) fell 1.03% to $164.51 per share. Apple will announce its latest financial report after the market next Thursday (27th), and analysts at Morgan Stanley predict that Apple’s financial report will be better than market expectations, especially optimistic about the performance of iPhone revenue, but this will not significantly boost Apple’s stock price in the current environment .

Semiconductor giant Intel (INTC-US) was flat at $52.04 a share. Intel confirmed on Friday that it will build a new wafer fab in Ohio, and plans to invest $20 billion to expand its semiconductor production capacity.

Economic data

  • The leading indicator of the US Conference Board in December reported a monthly rate of 0.8%, expected 0.8%, and the previous value of 0.7%

Wall Street Analysis

The Nasdaq 100 has lost at least 1% a day this week, a rare occurrence since the dot-com bubble burst in April 2000 and September 2001, which must be ominous, said George Pearkes, strategist at Bespoke Investment Group. omen.

“There are a lot of risks to the global economy, including geopolitical events, but in my opinion, the biggest near-term risk is that the Fed is seriously behind the curve, and they have to take inflation seriously,” said Ethan Harris, head of global economics at Bank of America Global Research.

(The figures are updated before the deadline, please refer to the actual quotation)


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