U.S. stocks closed lower, Dow fell nearly 200 points, Intel fell more than 16percent

 U.S. stocks closed lower, Dow fell nearly 200 points, Intel fell more than 16percent

The Dow Jones index fell 182.44 points, or 0.6%, to 26469.89, the S & P 500 index, or 0.6%, to 3215.63, and the Nasdaq composite index to 10363.18, down 0.9%.

Intel shares fell more than 16%. The companys outlook for the third quarter was disappointing and delayed the release of the next generation of chips.

Specifically, in the U.S. stock market trading on Friday, technology leading stocks generally fell, with Apple shares closing at $370.46, down 0.25%; Googles parent company alphabet, down 0.25%; Amazon, at $3008.91, up 0.75%; Microsoft, at $201.30, down 0.61%; Facebook, at $203.71, down 0.81%; Oracle, at $55.65, down 0.25% 20%; IBM closed at $125.79, down 1.21%; Netflix closed at $480.45, up 0.60%; Tesla closed at $1417.00, down 6.35%; twitter fell 2.34%, Uber fell 3.08%; LYFT fell 1.43%.

Most of the leading chip stocks in the US stock market fell, with Intel closing at US $50.59, down 16.24%; NVIDIA, up 0.64%; Broadcom, down 1.25%, at US $305.79; Texas Instruments, up 0.46%; Qualcomm, down 0.87%; AMD, at US $69.40, up 16.50%; micron, down 4.98%; Broadcom, down 4.73%.

Major Chinese stocks listed in the U.S. rose or fell 1.14% to $249.00, Jingdong to $60.88, up 0.59%, Baidu to $119.02, down 1.72%, pinduoduo to $78.9.5, down 0.13%, bilibilibili to $40.10, down 2.20%, tal to $75.74, up 1.92%, iqiyi to $20.40, down 3.68% It closed at $81.20, down 1.41%; Weibo closed at $33.72, up 1.17%; Sina rose 0.70%; Sohu rose 9.24%; Sogou rose 21.05%; Ctrip rose 1.01%; 51job fell 2.05%; car home rose 2.40%; 58 intra city rose 0.25%; Weilai fell 2.72%; Jinshan cloud fell 0.19%.

We are continuing to be in this highly volatile state, said John Graham, head of ETF strategy at Allianz investment management. Not only in the market, but in every corner of our daily life, there is such uncertainty.

Its hard to see that volatility and the uncertainty it implies will soon disappear, he said

The CBOE volatility index (VIX), regarded by many investors as the best panic indicator on Wall Street, rose above 25 on Friday. Meanwhile, gold closed at $1897.50 an ounce, up 0.4%.

Large technology stocks have become market leaders as investors struggle to cope with the new crown epidemic and its impact on corporate profits. So far this year, Amazon and Netflix are up 62% and 48% respectively. Meanwhile, both alphabet and Facebook are up more than 12%.

But big tech equity week is in trouble. This week, Facebook is down more than 4%, apple is down 3.8%, Netflix is down 2.5%, Microsoft and alphabet are both down at least 0.5%.

Keith Lerner, chief marketing strategist at Truist/SunTrustAdvisory, a market research firm, said in a report: there is growing concern that another technology bubble is coming into being. (KeithLerner) The risk of market concentration is also increasing. At present, the market value of the top five stocks accounts for 22% of the total market value of S & P 500 index companies.

But surely, Lerner pointed out: to a large extent, todays situation can not be compared with the mania of the late 90s in the technological bubble.

(Liu Chun)

Source of this article: Zhang Zutao, responsible editor of Netease science and Technology Report_ NT5054