On Wednesday, the Nasdaq fell more than 2%, Microsoft bucked the trend and rose more than 3%, and Google fell nearly 10%

On October 26th, it was reported that on Wednesday US time, the main stock indexes of the US stock market closed sharply lower, with technology stocks leading the decline. Previously, the financial reports released by Alphabet and Microsoft were mixed, while longer-term US Treasury yields also resumed their upward momentum

On October 26th, it was reported that on Wednesday US time, the main stock indexes of the US stock market closed sharply lower, with technology stocks leading the decline. Previously, the financial reports released by Alphabet and Microsoft were mixed, while longer-term US Treasury yields also resumed their upward momentum.

The Dow Jones Index closed at 33035.93, down 105.45 points, or 0.32%, with 5 of the past 6 trading days falling; The Standard&Poor's 500 Index closed at 4186.77, a decrease of 1.43%; The Nasdaq Index closed at 12821.22, a decrease of 2.43%, entering a correction range and setting its largest daily percentage decline since February 21, 2023.

Large technology stocks generally fell, with Google falling more than 9%, Amazon falling more than 5%, and Meta falling more than 4%; Microsoft bucked the trend and rose by over 3%. In the first fiscal quarter, Microsoft Azure cloud computing business grew by 28% at a fixed exchange rate, exceeding the company's own and analyst forecasts, which surprised investors.

Leading chip stocks generally fell, with Intel, AMD, and ARM falling more than 5%, while TSMC, NVIDIA, and Qualcomm falling more than 4%.

Most popular new energy vehicle stocks fell, with Tesla falling 1.89%, Rivian falling 2.35%, and Faraday rising 0.48% in the future; NIO fell 6.06%, while Xiaopeng fell 8.02%; Ideal fell 2.53%.

Among the leading e-commerce stocks in China, Alibaba fell 2.22%, JD.com fell 0.51%, and Pinduoduo fell 0.78%.

Among other popular Chinese concept stocks, Bilibili fell 3.91%, BOSS Direct Employment fell 3.37%, Baidu fell 3.10%, Man Bang fell 1.57%, Autohome fell 0.98%, Zhihu fell 0.95%, and Ctrip fell 0.35%; New Oriental bucked the trend and rose 2.85%, with a year-on-year increase of 47.7% in revenue of $1.1 billion for the first quarter of the fiscal year 2024 (as of August 31, 2023).

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:

Data shows that nearly a quarter of S&P 500 index companies have already announced their performance, with 81.4% of companies exceeding analysts' expectations, significantly higher than the typical quarterly performance of 67% since 1994.

Tim Urbanowicz, head of research and investment strategy at Innovator ETF, said that although there has been good news so far in the third quarter, investors need to remember that they are in a macro driven market. He said in his comments, "Many financial reports will give way to economic data

On Wednesday, US time, the yield of 10-year US treasury bond bonds rose 11.2 basis points to 4.952%. Earlier this week, the benchmark 10-year treasury bond bond yield exceeded 5% for the first time in 16 years.

The poor demand for the five-year US Treasury bonds auctioned on Wednesday also dampened market sentiment. Scott Ladner, Chief Investment Officer of HorizonInvestments, an investment firm, said that in the next month or two, investors will pay more attention to the results of US bond auctions than before to determine whether there is a supply-demand imbalance in the bond market.

(Liu Chun)