On November 12th local time, the three major indexes of the US stock market closed down.
As of the close, the Dow Jones Industrial Average fell 382.15 points, or 0.86%, to 43910.98 points; The Nasdaq fell 17.36 points, or 0.09%, to 19281.40 points; The S&P 500 index fell 17.36 points, or 0.29%, to 5983.99 points.
The 11 major sectors of the S&P 500 index fell 8 times and rose 3 times. The materials and medical sectors led the decline with a decrease of 1.57% and 1.34% respectively, while the communication services and technology sectors led the rise with an increase of 0.51% and 0.45% respectively.
Several Federal Reserve officials commented on Tuesday, including Federal Reserve Governor Christopher Waller and Minneapolis Fed President Neil Kashkari.
Waller stated that stablecoins are essentially a form of synthetic US dollars that may bring benefits to the financial system.
Kashkari stated that he will pay attention to the upcoming inflation data to determine whether it is appropriate to cut interest rates again at the Federal Reserve's December meeting. When asked what factors may cause decision-makers to press the pause button next month, he said, "Only unexpected changes in inflation would lead to such a significant change in the outlook
Large tech stocks are experiencing mixed ups and downs. Nvidia rose over 2%, Netflix, Microsoft, and Amazon rose over 1%, Google-A, Meta, and Oracle rose slightly, Apple remained flat, ASML fell slightly, TSMC and Broadcom fell over 1%, AMD, Boeing, and Qualcomm fell over 2%, Intel fell over 3%, and Tesla fell over 6%.
Tesla closed down 6.15% with a transaction volume of $50.956 billion. Previously, the stock had risen for five consecutive trading days, with a cumulative increase of over 30% over the five days. Musk once again participated in a phone call between US President elect Trump and foreign leaders. Serbian President Vucic said that Musk was also present during his conversation with Trump on Sunday. Just last week, Musk also attended a phone call between Trump and Ukrainian President Zelensky. Investors are optimistic about the close alliance between Musk and Trump, and have recently flooded into the stock.
Recent financial reports show that Tesla achieved a revenue of $25.182 billion. However, despite impressive earnings per share and net profit, concerns about a P/E ratio of 91.16 still exist in the market.
Tesla's stock rating shows market divergence, with 42% of institutions recommending buy, but still 23% holding a sell opinion. This inconsistent rating reflects different market expectations for Tesla's future profitability. Against the backdrop of a 3.94% overall decline in the automotive manufacturing industry, Tesla's performance is particularly outstanding.
Most financial stocks have fallen. Deutsche Bank fell more than 2%, Barclays, UBS Group, First Capital Financial, BlackRock, Goldman Sachs, American Express, and Citigroup fell more than 1%, Bank of New York Mellon, Morgan Stanley, American International Group, Mizuho Financial, United Bank of America, Bank of America, Mastercard, Visa, Travelers Insurance, and Regional Finance saw slight declines, while Wells Fargo, JPMorgan Chase, Hartford Financial, Allstar Insurance, Jiaxin Wealth Management, and MetLife saw slight gains.
Most energy stocks fell. US energy fell more than 3%, British Petroleum (US) fell more than 2%, Shell, Apache Oil, ConocoPhillips, Imperial Oil, Marathon Oil, and Western Petroleum fell more than 1%, Chevron, Duke Energy, and ExxonMobil fell slightly, while Schlumberger and Petrobras rose slightly.
Most popular Chinese concept stocks fell. The Nasdaq China Golden Dragon Index (HXC) closed down 4.45%. Kingsoft Cloud fell over 15%, Xiaopeng Motors and Tiger Securities fell over 10%, NIO fell over 9%, Futu Holdings and Jike fell over 8%, JD.com, Bilibili, and Ideal Auto fell over 8%, Miniso and Huya fell over 6%, Tencent Music fell over 5%, iQiyi fell over 4%, Ctrip, Baidu, Alibaba, and New Oriental fell over 3%, Pinduoduo fell over 2%, Vipshop fell slightly, and NetEase rose over 1%.
Trump Media and Technology Group fell nearly 9%. Since Trump's victory, the stock has fallen by 10%.
Small cap stocks, which are seen as potential beneficiaries of Trump's re-election, are generally under pressure, with the Russell 2000 Small Cap Index closing down 45.52 points, or 1.87%, at 2389.46 points.
After Trump's election victory, investors' investment in US stocks reached its highest level in three years, indicating the risk that the rally may be weak. According to analysts at Citigroup, strategists are considering the stimulating effect of Trump's economic policies on inflation and their impact on the Federal Reserve's interest rate path.
Source public information and market data