Stock Market
Affected by the successive statements of US President Donald Trump, the three major US stock indexes declined on the 13th, with declines all exceeding 1%.
By the close of the day, the Dow Jones Industrial Average fell 537.36 points compared to the previous trading day, closing at 40,813.57 points, a decrease of 1.30%; the S&P 500 Index fell 77.78 points, closing at 5,521.52 points, a decrease of 1.39%; the Nasdaq Composite Index fell 345.44 points, closing at 17,303.01 points, a decrease of 1.96%.
The S&P 500 Index has fallen by more than 10% from the all-time high set on February 19th and has entered a technical correction range. This is the first correction of the index since October 2023. The Nasdaq Index entered the correction range last week, having fallen by more than 14% from its high in December last year. The Dow Jones Index has fallen by more than 9% from its all-time high and is very close to the correction range.
Key Events
- Apple Allegedly Plans to Launch Real-time Translation Feature for AirPods, Likely to be Released with iOS 19:According to media reports citing sources, Apple Inc. is planning to introduce a new feature for AirPods that enables the earphones to translate face-to-face conversations in real-time.
- Tesla Warns It May Become a Target of Retaliatory Tariffs, Potentially Increasing the Cost of Cars Made in the US:Tesla warned that US President Donald Trump's trade war may make it a target of retaliatory tariffs against the United States and increase the cost of manufacturing cars in the US.
- Intel's New CEO Lip-Bu Tan Sends an All-staff Letter: Aims to Become a World-class Product Company Again and Continue the Foundry Strategy:On March 12 local time, Intel announced that its board of directors has appointed Lip-Bu Tan as the Chief Executive Officer, and the appointment will take effect on March 18.In the all-staff letter, Lip-Bu Tan said that under his leadership, Intel will become an engineering-centered company. "We will work together to restore Intel's status as a world-class product company and build ourselves into a top global foundry."Intel's stock closed up by more than 14% on Thursday.
Forex & Commodities
The international gold price reached a record high. The settlement price of COMEX gold futures was reported at $2,991.30 per ounce, up $44.50, an increase of 1.51%. Subsequently, during the continuous electronic trading session, New York gold futures once broke through the $3,000 mark, setting a new historical high and surging by more than $50 within the day.
The latest price of spot gold is reported at $2,989.24 per ounce, up $55.50, an increase of 1.89%, continuing to set a new high.
The international oil price declined on the 13th. By the close of the day, the price of light crude oil futures for April delivery on the New York Mercantile Exchange fell by $1.13, closing at $66.55 per barrel, a decrease of 1.67%; the price of London Brent crude oil futures for May delivery fell by $1.07, closing at $69.88 per barrel, a decrease of 1.51%.
At the end of trading in New York, the US dollar index rose by 0.24% to 103.84. Most non-US currencies declined. The euro fell 0.32% against the US dollar to 1.0852, the British pound fell 0.08% against the US dollar to 1.2953, and the Australian dollar fell 0.59% against the US dollar to 0.6283.
Key Events
- Former US Treasury Secretary: The Correction of US Stocks is Reasonable, the Economy Will Not Recess, and the Fiscal Deficit is the Biggest Problem:On Thursday (March 13 local time), former US Treasury Secretary Steven Mnuchin said that the US economy will not enter a recession, and the current stock market correction is reasonable. He also advised investors not to overreact to US President Donald Trump's trade policies.
Cryptocurrency
Bitcoin was quoted at $81,264.15, with a 24-hour decline of 3.04%.
Ethereum was quoted at $1,869.24, with a 24-hour decline of 1.92%.
Key Events
- It was Reported that the Trump Family Held Talks on Investing in Binance, and Changpeng Zhao Responded: It's Not True:On the 13th, the Wall Street Journal reported that the Trump family was in negotiations to invest in Binance's US subsidiary. If this comes true, it would mean that Trump would establish a business connection with this company that has admitted to violating anti-money laundering regulations. At the same time, Changpeng Zhao, the founder of Binance, is also actively seeking pardon from the Trump administration.However, on the same day, Changpeng Zhao responded in a post on a social networking site, stating that the report is not true and that he has not discussed any transactions related to Binance US with anyone.
Market Events and Most Anticipated Earnings Releases
