U.S. economic data continued to weaken, raising concerns about stalling growth. This caused U.S. stocks, the leader of risk assets, to fall, high-growth stocks such as technology and chips led the decline, and U.S. bonds, the dollar and gold, which are safe-haven assets, rose:

The initial value of U.S. durable goods orders rebounded significantly in March but was less than expected. The growth rate of the previous value in February was revised down, and the year-on-year increase in March hit a new low in more than a year.

The U.S. Conference Board Consumer Confidence Index was lower than expected in April, and the Current Situation Index fell slightly.

The U.S. housing market continued to cool as house prices in 20 U.S. cities recorded the fastest growth in history. New home sales fell 8.6% month-on-month in March.

U.S. stocks fell deeper in late trading, the S&P Dow hit a new six-week low, the Nasdaq fell into a bear market, and technology, chips, cyclicals, and industrial stocks all fell

On Tuesday, April 26, U.S. stocks reversed the trend of rebounding after yesterday’s deep decline and closed up collectively, returning to the sell-off that lasted throughout April. Many large star technology companies led the broader market lower before releasing their earnings reports, which is closely related to the economic situation. Cyclical and industrial stocks are also not good.

According to the analysis, market sentiment continues to be affected by multiple negative factors such as the imminent interest rate hike by European and American central banks, high inflation, slowing economic growth and the ongoing conflict between Russia and Ukraine. The Nasdaq is deep in a bear market. Tech stocks, which have risen sharply in recent years and “support the market”, may be dragged down by the economic stall and fall deeply when the company’s fundamentals begin to deteriorate significantly. This may not be the case since Netflix and Meta’s fourth quarter earnings report. Jia has a glimpse.

The three major U.S. stock indexes gapped and opened lower. The Dow fell more than 200 points at the opening, the S&P 500 fell 0.6%, and the Nasdaq fell 0.8%. Within half an hour, the decline in U.S. stocks expanded rapidly. The Nasdaq, which is dominated by technology stocks, fell 2%, the S&P fell 1%, and the Dow fell about 300 points.

U.S. stocks fell deeper in late trading. The Nasdaq closed at a daily low, down 514.11 points or 3.95%, and fell 13,000 points to 12,490.74 points, hitting a new 52-week low and falling into a bear market, falling 23% from its 52-week high. The S&P also closed at a daily low, down 120.92 points or 2.81%, and fell below 4,200 points to 4,175.20 points. The Dow closed down nearly 810 points, or 2.38%, at 33,240.18 points, missing 34,000 points. The value-heavy Russell 2000 index of small-cap stocks also closed at a session low, down 3.3 percent and below the 1,900-point range.

The S&P market hit a new six-week low since March 14, the Dow also gave back all gains since March 15, the Nasdaq hit its lowest level in nearly a year and a half since early December 2020, and the Russell 2000 small-cap stocks also hit 2020 lowest since December. Since April, the S&P has fallen 7.8%, the Nasdaq Composite has fallen more than 12%, and the Dow has fallen 4.2%. The Dow has fallen for four straight weeks, while the S&P and Nasdaq have fallen for three straight weeks.

Financial blog Zerohedge said that the Nasdaq fell below its lowest level since March, and today’s decline was the largest in a single day since September 2020.

Star technology stocks generally fell, and the FANG+ portfolio fell to the lowest level since September 2020:

The “Metaverse” Meta, which announced its first quarterly report after the market on Wednesday, fell as deep as 4%, and closed down more than 3% to a two-year low. This year, it has fallen 46%.

Amazon, which reported earnings on Thursday, closed down 4.6 percent, hitting a seven-week low since March 9, and has fallen nearly 16 percent this year. Apple, which reported earnings on Thursday, fell 3.7 percent to a six-week low and has fallen more than 11 percent this year.

Microsoft, which announced its financial report after the market today, also fell 3.7%, the lowest since the end of June 2021, and has fallen by nearly 20% this year. After the financial report was released, it once turned down more than 1%. Alphabet, the parent company of Google, which also announced its financial report today, closed down 3.6%, the lowest since June last year. It has fallen more than 17% this year, and once fell 7% after the market. The two tech giants dragged the Nasdaq down more than 1.3% after the 100th session.

Netflix fell 5.5% and fell below $200, falling for four days in a row to its lowest level since the end of 2017. It has fallen by 2/3 this year. Tesla fell more than 11%, the largest decline in at least two months and the largest decline in the Nasdaq. It fell for three consecutive days to the lowest since March 17, and has fallen 17% this year.

Popular chip stocks also fell sharply in the Nasdaq. The Philadelphia Semiconductor Index closed at a daily low, falling more than 130 points or 4.4%, falling below 3,000 points and approaching 2,900 points, hitting an 11-month low, with a cumulative decline of more than 26% this year. Nvidia fell 5.6% to its lowest level in nine months and has fallen more than 35% this year. AMD fell more than 6%, the lowest in nine months, and fell 40% this year. Intel, which announced its earnings report on Thursday, fell more than 3% to the lowest in two weeks, and has fallen more than 11% this year.

Cyclical and industrial stocks, which are positively correlated with economic growth, have also been hit hard:

Despite better-than-expected first-quarter earnings, Dow component 3M fell 3 percent, falling for three straight days to its lowest level since March 14, citing challenges from macroeconomic and geopolitical risks. UPS, which reported better-than-expected earnings, also fell 4.7 percent to its lowest level in six and a half months.

General Electric once fell nearly 13%, and closed down more than 10%, the lowest since late November 2020, and lowered its profit forecast for this year due to supply chain problems.

Boeing and Caterpillar fell 5% and nearly 3%, respectively. U.S. bank stocks fell more than 2% across the board, falling along with U.S. bond yields, and consumer goods giant Nike fell nearly 6%.

Popular Chinese stocks fell with the broader market. The Chinese concept ETF KWEB closed down 1.9%, CQQQ fell 2.9%, and the Nasdaq Golden Dragon China Index (HXC) fell more than 3%. Among the four Nasdaq 100 constituents, JD.com and NetEase fell 1%, Pinduoduo fell more than 2%, and Baidu fell nearly 4%. Among other stocks, Alibaba and Tencent ADR fell 2%, Station B fell more than 3%, and “Three Stupid Cars” fell more than 5%, but iQiyi closed up 0.6%. Faraday Future closed down nearly 13% to a record low. It fell more than 30% during the session and triggered a circuit breaker.

European stocks followed the deep decline of U.S. stocks and turned lower during the session, and finally closed lower. Technology, banking, auto and retail stocks all led the decline by more than 2%. The pan-European Stoxx 600 index closed down 0.9%, falling for three consecutive days to The six-week low since March 15. German stocks fell more than 1% to lead the decline of major Western European indexes, Italian stocks fell nearly 1%, Russian stocks rose to about 6%, and the depreciation of the British pound bucked the market and closed up.

Under the pressure of today’s sudden news “Russia suspended the supply of natural gas to Poland”, the Polish local currency and the stock market fell, the Polish zloty fell 0.8% against the euro, and the Warsaw WIG 20 index fell to over 1.2% since March 8. It fell below the psychological barrier of 1900 points for the first time. The source also said that Poland’s climate ministry has called an emergency meeting to discuss the issue.

Economic slowdown worries intensified, European and American bond yields fell, and short-end U.S. bond yields fell deeper in late trading

While U.S. stocks opened lower and moved lower, the U.S. bond market was also quite unsettled. The prices of U.S. Treasury bonds of all maturities rose in general, especially the short-term U.S. bond yields fell sharply, and the 5-year/10-year U.S. bond yield curve inverted, all indicating that investors are increasingly worried about the economic recession triggered by interest rate hikes.

The 10-year benchmark U.S. Treasury yield fell by more than 10 basis points in the day, falling below the 2.80% mark, and the daily low was close to 2.72%. part of the increase. The 30-year long-term bond yield fell by more than 7 basis points at the deepest, with a daily low of 2.82%. It also gave up most of the gains in the past two weeks, and the decline narrowed in late trading.

Two-year U.S. Treasury yields, which are more sensitive to monetary policy, deepened their losses to more than 14 basis points in late trade, falling below 2.50%, giving back a week of gains. The 3-year yield also deepened to nearly 14 basis points, falling below 2.70%, and the 5-year yield fell more than 11 basis points, falling below 2.75%.

European bond yields also fell broadly. The yield on the 10-year German bond fell 2.4 basis points to 0.814% in late trading. In Asia Pacific, it rose to a daily high of 0.889% in late trading, and then fell volatile, recording a daily low of 0.788% in early U.S. stocks. Yields on 10-year British government bonds fell by 4 basis points at one point.

Oil prices rebounded, U.S. oil rose more than 3% and returned to $100, Russia suspended gas supply to Poland, and European natural gas jumped 17% at one point

International energy markets continue to be disrupted by the Russian-Ukrainian conflict. WTI June crude oil futures closed up $3.16, or 3.20%, at $101.70 a barrel. Brent June futures settled up $2.67, or 2.6%, at $104.99 a barrel. Both contracts closed down about 4% on Monday, with Brent oil down $7 and U.S. oil down about $6.

U.S. oil WTI returned to the top of the psychological mark of $100, rising as high as $4.24 or 4.3% in the day, pushing the daily high to $103, stopping three consecutive declines and recovering most of the losses since last Friday. International Brent June futures rose as high as $3.88 or 3.8%, and the daily high rose above $106, which also stopped three consecutive losses. July futures also rose by more than 3% and pushed up to $106.

U.S. stocks reported in early trading that Russia had suspended the supply of natural gas to Poland. European benchmark TTF Dutch natural gas futures jumped nearly 17% at one point, returning to the top of the 100 euros/MWh integer, with a daily high approaching 109 euros. It returned to 98 euros, still up nearly 6%. ICE British natural gas futures jumped more than 18% at one point, before falling back to 2% in late trade. Electricity prices in Germany rose above the 200-euro mark in the next month, rising nearly 8% at one point.

In addition, the key U.S. diesel price spread was the widest on record. The spread on the NYMEX May diesel futures over the June contract soared to more than 59 cents a gallon, the widest since data began in 2008, underscoring investor concerns about the supply side amid the Russia-Ukraine conflict. Wall Street News also mentioned that, due to the inconsistency in banning the import of Russian oil, the EU is considering setting a price ceiling to hit Russia’s fiscal revenue.

Safe-haven demand pushes the dollar to another two-year high, the yen rebounds from a 20-year low before the central bank’s decision, and bitcoin falls below $38,000

Safe-haven demand pushed the dollar to two-year highs. The U.S. dollar index DXY, which measures the U.S. dollar against a basket of six major currencies, rose above 102, with U.S. stocks up 0.6 percent in late trade, the highest since March 2020 for several consecutive days. The Bloomberg Dollar Index also hit a new high since May 2020.

The euro fell as much as 0.6% against the dollar and fell below 1.07, hitting its lowest since March 2020 at 1.0643. The analysis said that this is because the European economy is being dragged down by the conflict between Russia and Ukraine, and the European Central Bank is slower to raise interest rates than the Federal Reserve. Goldman Sachs expects the ECB to raise interest rates for the first time in July by 25 basis points, followed by one increase each in September and December.

GBP/USD also fell more than 1% and fell below 1.26, the lowest since July 2020. The U.S. dollar rose more than 0.65% against the Canadian dollar, hitting a new high of 1.2826 in more than a month since March 15. The Norwegian crown fell to its lowest level since November 2020 against the dollar. The yen rallied ahead of the Bank of Japan’s monetary policy decision on Thursday, hitting a two-decade low against the dollar last week as investors speculated the Bank of Japan could stabilize the currency.

The cryptocurrency leader Bitcoin once fell 6% and fell below $38,000, and its daily high once exceeded $40,000. Ethereum, the second-largest by market value, also fell by more than 5% to 2,800 US dollars, and the daily high once rose above 3,000 US dollars. The encrypted digital currency as a risk asset generally fell, following the trend of the market risk appetite ebb.

Gold futures stopped falling for five consecutive days and returned to above $1,900. London copper closed below $10,000 for two consecutive days, and most of the intraday night market closed up.

COMEX June gold futures closed up 0.43% at $1,904.10 an ounce, snapping a five-session losing streak and returning to the psychological mark of $1,900, as investors worried about stagnant global economic growth and soaring inflation.

Gold pushed down to $1,890 yesterday, erasing all gains since April, and fell below $1,900 for the first time since late February, the biggest drop in nearly seven weeks and a new two-month low.

Spot gold rose as high as more than $13 or 0.7% on Tuesday, rising above the two integers of $1,900 and $1,910, but it once returned to below $1,900 during the session. Analysts said that U.S. interest rate hike expectations drove U.S. bond yields and the U.S. dollar higher, both limiting gold prices.

In addition, palladium, which fell 13% yesterday, also rose by more than 1%, but silver futures fell for six consecutive days, hitting a two-month low.

London base metals were mixed. LME copper futures closed up $91 at $9,860 per ton, closing below $10,000 for two consecutive trading days. Monday was the first time since mid-March that it closed below the psychological level of $10,000. Lunxi closed up 685 US dollars and returned to 40,000 US dollars. It closed below this mark for the first time since early January yesterday. London zinc, which led the decline yesterday, closed up slightly today, while London nickel also stopped its two-day losing streak and closed up $440. However, the aluminum fell for five days in a row and fell to US$3,000, and the lead in London hit a new low in a month.

Most of the intraday futures night markets closed higher, led by fuel up 4.6% and asphalt up 4.2%. Threads rose 1.70%, hot coils rose 1.41%, and iron ore rose 2.92%. Coke rose 0.88%, coking coal rose 1.89%, but thermal coal closed down 0.47%. LPG and palm oil both rose more than 3%, soybean oil and rapeseed oil both rose about 2%, Indonesia’s export ban on palm oil and its raw materials will take effect on April 28, and the market is worried about supply shortages.

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