Geopolitical risk intensifies! The Dow fell by over 280 points, Bitcoin briefly rose by over $1000, and 30000 people sold out! Tesla has accumulated over 990 billion yuan of market value evaporation in three days

On Friday (October 20th) Eastern Time, the three major stock indices fell three times on a daily basis, as investors worried about further interest rate hikes by the Federal Reserve and heightened concerns in the Middle East about the escalation of the Israeli-Palestinian conflict, further damaging risk appetite.

As of the close, the Dow fell 286.89 points, or 0.86%; The Nasdaq fell 1.53%; The S&P 500 index fell 1.26%.

Popular technology stocks generally fell, with Tesla plummeting by over 17% in three days, and its market value has evaporated by a total of 995 billion yuan. This week, LeEco fell more than 15%, Amazon fell more than 2%, and Apple, Microsoft, Google, and Nvidia all fell more than 1%. Among them, Nvidia fell more than 9% this week, marking its worst weekly performance since September 2022.

Solar energy, automotive manufacturing, industrial metals, and WSB concept stocks led the decline, with SunPower falling more than 8%, Snitzer Steel and Fisk falling more than 4%, McMoran Copper falling more than 3%, and Rivian falling more than 2%. The tobacco, retail department stores, and precious metal sectors rose, with gold mining up over 49%, gold resources up over 6%, and Cole's department stores up over 2%.

Bitcoin (BTC), seen by some supporters as a tool of avoidance, accelerated its rise. It hit a new daily low of $28700 in the early trading session of the Asian stock market on Friday, and rose above $30200 in the European stock market,At one point during Friday trading, it rose by over $1000.

New York gold futures continued to rise throughout the day on Friday. In the early trading session of the US stock market, they rose above the $2000 mark for the first time since August 1, and later rose to $2009.2. Although they did not close above $2000, they continued to reach their closing high since July 31 for two consecutive days, rising for four consecutive days.

Tesla plummeted by over 17% in three days, with a cumulative market value of 995 billion yuan evaporated

Tesla (TSLA) fell 3.69% to $211.99, with a market value of $672.86 billion.Tesla has fallen by 17.77% for three consecutive trading days, with a cumulative market value of 136 billion US dollars (approximately 995 billion yuan) evaporated.

On October 19th, Beijing time, Tesla released its financial report for the third quarter of 2023, which showed that Tesla's revenue in the third quarter of this year was about 23.4 billion US dollars, a year-on-year increase of 9%, lower than Wall Street's expected 24.3 billion US dollars, the slowest growth rate in three years; The net profit was $1.853 billion, a year-on-year decrease of 44%.

Image source: Tesla Financial Report

Tesla CEO Elon Musk stated on the third quarter financial report conference call on the 18th that,Tesla will still strive to lower the prices of its cars.

The benchmark 10-year US Treasury yield slightly declined on Friday

The benchmark 10-year US Treasury yield slightly declined on Friday5%

Investment consulting firm Alan B Lancz& Alan Lancz, President of Associates, said: "Due to rising interest rates, the entire industry is shrouded in clouds. We may not have a soft landing, which will harm the financial markets. Investors are also closely monitoring the situation in the Middle East. He said that before entering the weekend, investors are seeking safety.

CityIndex market analyst Fawad Razaqzada commented, "The current situation in the Middle East has triggered significant fluctuations in the oil and stock markets, forcing investors to reassess their trading strategies and shift their focus from high-risk assets to 'safer' investments

Israeli Defense Minister Yoyaf Galant elaborated on Friday on Israel's combat plans and objectives in the Gaza Strip. Galant stated that Israel plans to completely eliminate Hamas by destroying its military power and establish a new "security regime" in the Gaza Strip.

In addition to the Middle East crisis, the market is also affected by concerns that interest rates will remain high for a longer period of time. Cleveland Federal Reserve Chairman Maester stated on the same day that she believes that the current inflation risk in the United States is biased towards an upward trend, and that the Federal Reserve may still raise interest rates again this year, consistent with the "dot matrix" released by the bank in September.

Bitcoin rose above $30000 in intraday trading, reaching a new high in two months

Bitcoin (BTC), seen by some supporters as a tool of avoidance, accelerated its rise. It hit a new daily low of $28700 in the early trading session of the Asian stock market on Friday, and rose above $30200 in the European stock market,SECETF3Reaching a two month high set on MondayCompared to the previous low, it rose by over 1600 US dollars, up nearly 6%, and had already fallen by 30000 US dollars before reaching the US stock market. The US stock market closed above 29500 US dollars, up nearly 3% in the past 24 hours, and up over 10% in the past seven days.

Bitcoin, seen as a safe haven, rose more than $1000 in intraday trading on Friday

According to COIN data, a total of 30000 people have sold out in the past 24 hours.

Gold has risen above the $2000 mark for the first time in more than two months in a four month streak

New York gold futures continued to rise throughout the day on Friday, with US stocks rising above the $2000 mark for the first time since August 1st in the early trading session. They later rose to $2009.2, up nearly 1.5% during the day. In the end, COMEX's December gold futures closed 0.70% higher at $1994.40 per ounce. Despite failing to close above $2000, they continued to hit their closing high since July 31st for two consecutive days, rising for four consecutive days.

The cumulative increase in gold in this cycle is 2.72%, after three consecutive weeks of decline and two consecutive weeks of gains. This is also a continuous weekly cumulative increase since the outbreak of the Palestinian-Israeli conflict, but the increase is far less than last week. In the previous cycle, gold rose by approximately 5.22%, marking its largest weekly increase since March 17th.

The New York silver futures rebounded on Thursday, with COMEX's December silver futures up more than 3% in the session, closing 2.05% higher at $23.504 per ounce, setting a new high since September 22nd. This week, they have risen 2.66%, rising for two consecutive weeks, but not as high as last week, when they rose more than 5%.

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