US stock market on Tuesday: All three major stock indices fell, with Google up more than 2% and Baidu up more than 4%

On May 17th, it was reported that on Tuesday, US stocks closed with major stock indices falling across the board. Investors are still paying attention to the latest progress in negotiations between the White House and Congress on the debt ceiling issue

On May 17th, it was reported that on Tuesday, US stocks closed with major stock indices falling across the board. Investors are still paying attention to the latest progress in negotiations between the White House and Congress on the debt ceiling issue.

The Dow Jones Index closed at 33012.14 points, down 336.46 points, or 1.01%; The Standard&Poor's 500 Index closed at 4109.90, down 0.64%; The Nasdaq Index closed at 12343.05, down 0.18%.

Large technology stocks fluctuated, with Google, Amazon, and Microsoft rising, while Google rose by over 2%; The apples are evenly harvested. According to reports, due to optimism about the development prospects of artificial intelligence (AI), two fund giants have simultaneously established positions in Google's parent company Alphabet.

Most of the leading chip stocks fell, while TSMC, NVIDIA, Broadcom, and AMD bucked the trend and rose, with AMD rising more than 4%. Morgan Stanley analysts say that as AMD continues to move against the wind in the gaming and artificial intelligence fields, the company's opportunities may be much greater than initially imagined.

Popular stocks of new energy vehicles generally fell, with Tesla bucking the trend and rising 0.10%, Rivian falling 2.68%, and Faraday falling 8.59% in the future; NIO fell 4.12%, while Xiaopeng fell 2.96%; Ideal fell 0.13%. On Tuesday local time, Tesla held its annual shareholders' meeting at its factory in Austin, Texas, USA.

Among the leading e-commerce stocks in China, Alibaba rose 0.48%, JD.com rose 0.66%, and Pinduoduo fell 0.09%.

Among other popular Chinese concept stocks, Zhihu fell 4.76%, Bilibili fell 2.91%, Manbang fell 1.31%, BOSS Direct Hire fell 1.24%, Ctrip fell 0.85%, Baidu rose 3.97%, New Oriental rose 0.28%, and Autohome rose 0.06%. Baidu released its unaudited financial report for the first quarter of 2023, showing a significant increase of 48% in net profit year-on-year, and the smart cloud business achieved profitability.

Specifically, the main technology stocks in the US stock market performed as follows:

The main chip stocks in the US stock market perform as follows:

The performance of popular Chinese concept stocks listed in the United States is as follows:

On Tuesday, US time, the yield of US treasury bond bonds rose across the board, and the yield of 30-year US bonds climbed to about 3.9%, the highest level since the turmoil in the US banking industry in early March this year.

US President Biden began negotiations with US House Speaker McCarthy on Tuesday. Meanwhile, negotiators from the White House and Congress are intensifying efforts to reach a budget agreement to avoid a US debt default.

Seema Shah, Chief Global Strategist at Principal Asset Management, said: "As both parties know what is at stake, a default is impossible. However, as the deadline for the Treasury's June 1 (cash exhaustion) deadline approaches, without a solution, it could exacerbate market volatility, reduce demand for risky assets in the United States, and even accelerate the economic recession

The latest survey by Bank of America shows that the sentiment of global fund managers further deteriorated in May, with investors worried about the imminent economic recession and credit squeeze, and cashing out.

(Liu Chun)