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<US Mkt>Nasdaq Ends Losing 123Pts; Nvidia Slips 3%; PDD, JD Soar 10%
Recommend 13 Positive 18 Negative 12 |
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Investors’ anticipation for the key inflation data to be released this week, coupled with the fact that AI focus stock Nvidia (NVDA.US) may be investigated for violations of China's anti-monopoly law, of which the stock maintained a nearly 3% decline at close, dented the Nasdaq and S&P 500 indexes from their all-time highs on Monday. The Nasdaq closed 123 pts or 0.6% lower at 19,736; the S&P 500 closed 37 pts or 0.6% lower at 6,052; and the DJIA closed 240 pts or 0.5% lower at 44,401. Chinese ADRs were under spotlight. The Chinese central government's economic conference pointed out that a more proactive fiscal policy and a modestly loose monetary policy will be implemented in 2025. Chinese ADRs collectively escalated, with Pinduoduo (PDD.US) and JD.com (JD.US) soaring more than 10%, with Pinduoduo being the best performer in the Nasdaq 100. Alibaba (BABA.US) and Trip.com (TCOM.US) mounted 7-8%. Chinese automaker Nio (NIO.US) shot up 12%. Another chip stock, AMD (AMD.US), was downgraded by a broker, which said its market share will decline. The stock shed about 6%. Meta (META.US) and Netflix (NFLX.US) sagged nearly 2% each. AAStocks Financial News |
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