ADDX GO Market Morning Wrap - 11th Mar
Go Wire
March 11, 2025
GoGPT Summarizes Articles
Stock Market
The three major US stock indexes closed down collectively, triggering serious market concerns due to the rising risk of a US economic recession. By the close of the day, the Dow Jones Industrial Average fell 890.01 points from the previous trading day to close at 41,911.71, a decrease of 2.08%; the S&P 500 Index dropped 155.64 points to close at 5,614.56, a decline of 2.70%; and the Nasdaq Composite Index declined 727.90 points to close at 17,468.33, a decrease of 4.00%.
Most large technology stocks declined. $TSLA fell more than 15%, recording its largest single-day decline since September 2020, and its stock price has been "halved" from its all-time high. $NVDA dropped more than 5%, and $AAPL , Meta, and Google fell more than 4%, while $MSFT declined more than 3%. The cryptocurrency, automobile manufacturing, and semiconductor sectors were among the top decliners. Coinbase dropped more than 17%, $MSTR fell more than 16%, ContiTech declined more than 8%, and $ASML dropped more than 6%.
Key Events
- Apple Reportedly Preparing Major Software Overhaul for iPhone, iPad, and Mac：According to media reports citing sources, Apple is preparing for one of the most significant software overhauls in the company's history, planning to bring a new interface design for the iPhone, iPad, and Mac to cater to the needs of a new generation of users.
- AMD Plans to Issue $1.5 Billion in Senior Notes：According to a US Securities and Exchange Commission filing, $AMD has submitted an application to issue senior notes in two tranches, including $875 million in senior notes due in 2026 with a coupon rate of 4.212%, and $625 million in senior notes due in 2028 with a coupon rate of 4.319%.
- MicroStrategy to Sell $21 Billion in Preferred Stock：MicroStrategy announced on Monday a plan to raise an additional $21 billion for the purchase of bitcoin, although the company continues to postpone its move to buy more cryptocurrencies. The company said it currently holds about 499,096 bitcoins, with a cost of about $66,357 per coin.
Forex & Commodities
International oil prices fell on the 10th. By the close of the day, the price of light crude oil futures for April delivery on the New York Mercantile Exchange fell $1.01 to close at $66.03 per barrel, a decrease of 1.51%; the price of Brent crude oil futures for May delivery in London dropped $1.08 to close at $69.28 per barrel, a decline of 1.53%.
International gold prices declined. COMEX gold futures fell $14.70, a decrease of 0.50%, closing at $2,899.40 per ounce.
At the end of trading in New York, the US dollar index rose 0.03% to 103.93, and most non-US dollar currencies declined.
Key Events
- Trump's Chief Economic Adviser: Tariff Uncertainty to Be Resolved in April, US Economy Not to Sink into Recession：As talk of a US economic recession triggered by US tariff policies gains momentum, the sell-off in the US stock market is intensifying. Kevin Hassett, director of the White House National Economic Council, said on the same day that many people currently expect the US economy to enter a recession and are worried about inflation, but there are more reasons to be optimistic about the US economy, and he does not believe a recession will become a reality.
- Wage Data Ignites Expectations of Bank of Japan Rate Hike, Japanese Bond Yields Soar and Yen Strengthens：During the European session on Monday (March 10), the yield on Japan's 10-year government bonds rose to 1.564% at one point, reaching a new high since 2008, highlighting market expectations that the Bank of Japan will continue to raise interest rates. Earlier in the day, Japan reported that January's regular wages, including basic pay, rose 3.1% year-on-year, the largest year-on-year increase since October 1992 (in 32 years); the total cash wages, equivalent to nominal wages, increased by 2.8%, posting growth for 37 consecutive months.
Cryptocurrency
Cryptocurrencies fell across the board, with bitcoin falling below $80,000 to $78,589.38.#btc
Ethereum dropped more than 7% to $1,868.24.#ethereum
Key Events
- Only 4% of the Global Population Holds Bitcoin in 2025：Currently, only 4% of the global population holds bitcoin, with the highest concentration in the United States, where an estimated 14% of individuals own BTC. According to a research report by BTC financial services company River, North America remains the continent with the highest adoption rate among individuals and institutions, while Africa currently has the lowest rate at only 1.6%. Overall, the adoption rate of BTC tends to be higher in developed regions than in developing regions. River estimates that BTC has only achieved 3% of its maximum adoption potential — indicating that the digital currency is still in the early stages of global adoption.
Market Events and Most Anticipated Earnings Releases
#Market Morning Wrap#$Tesla Inc. Common Stock(TSLA)#$Nvidia Corp(NVDA)#$Apple Inc.(AAPL)#$Microsoft Corp(MSFT)#$MicroStrategy Inc(MSTR)#$ASML Holding NV(ASML)#$Advanced Micro Devices(AMD)#btc#ethereum