On August 28th local time, the three major US stock indices collectively closed down.
The S&P 500 index fell 0.60% to 5592.18 points; The Dow Jones Industrial Average fell 0.39% to 41091.42 points; The Nasdaq index fell 1.12% to 17556.03 points.
Among the popular US stocks, Apple fell 0.68%, Microsoft fell 0.78%, Google A fell 1.11%, Amazon fell 1.34%, Meta fell 0.45%, TSMC fell 0.78%, Tesla fell 1.65%, and AMD fell 2.75%.
The Nasdaq China Golden Dragon Index fell 3.57%, while the FTSE China A50 Index fell 1.04%. In terms of popular Chinese concept stocks, Tencent Holdings (Hong Kong stock) fell 1.99%, Alibaba fell 2.27%, Pinduoduo fell 7.03%, NetEase fell 3.78%, Ctrip rose 0.46%, Baidu fell 2.90%, Ideal Auto fell 16.12%, NIO fell 7.63%, and Xiaopeng Motors fell 9.00%.
In terms of US bonds, the benchmark 10-year US bond yield is 3.84%, while the 2-year US bond yield, which is most sensitive to the Fed's policy rate, is 3.83%.
According to CME's "Federal Reserve Watch", the probability of the Federal Reserve cutting interest rates by 25 basis points in September is 63%, and the probability of cutting interest rates by 50 basis points is 37%. The probability of the Federal Reserve reducing interest rates by 50 basis points cumulatively until November is 41.4%, the probability of reducing interest rates by 75 basis points cumulatively is 45.9%, and the probability of reducing interest rates by 100 basis points cumulatively is 12.7%.
Nvidia closed down over 2%, with a sharp drop of over 8% after the market closed. As of press time, Nvidia's post market decline still reached 6.9%. Affected by this, the Nasdaq fell more than 1.3% after 100 hours, and AI chip stocks in the US stock market collectively fell after hours.
The latest financial report released by Nvidia shows that its revenue for the second quarter of fiscal year 2025 reached $30 billion, a year-on-year increase of 122%, higher than analysts' expectations of $288.6; Non GAAP adjusted earnings per share were $0.68, a year-on-year increase of 152% and higher than analysts' expectations of $0.64.
Analysts believe that the third quarter performance guidance is the main reason for the sharp decline in Nvidia's stock price. Nvidia expects its revenue growth to slow down to double digits for the first time in six quarters, while Wall Street's optimistic expectation is to maintain triple digit growth.