On Tuesday Eastern Time, the three major US stock indexes collectively closed lower. As of the close, the Dow Jones Industrial Average fell 0.17%, the Nasdaq fell 0.92%, and the S&P 500 index fell 0.60%. Large tech stocks generally fell, with Nvidia and AMD falling more than 4%, and Netflix and Amazon falling more than 1%.
Gexin rose more than 2%, and the company received $1.5 billion in "chip bill" subsidies, and will also receive $600 million in subsidies from New York State. Intel rose over 2%, with news suggesting that the United States is considering providing it with over $10 billion in subsidies. Wal Mart rose more than 3%, and Q4 revenue and adjusted earnings per share exceeded expectations.
Most popular Chinese concept stocks fell, with the Nasdaq China Golden Dragon Index falling more than 1%. Xiaopeng Motors fell more than 5%, JD.com fell more than 4%, NIO fell more than 3%, Pinduoduo and Tencent Music fell more than 2%, Vipshop, Bilibili, Baidu, Alibaba fell more than 1%, and NetEase fell slightly.
Global News

The Ministry of Foreign Affairs responds to the US and Europe's trade protection measures for electric vehicles in China: not pursuing "faster" but attempting to "trip others"
Regarding the trade protectionism measures taken by relevant countries towards China, Mao Ning stated that, as Foreign Minister Wang Yi pointed out, normal trade relations should be made more secure and ideologically oriented, under the guise of "risk reduction", and a "small courtyard and high wall" should be constructed. He does not pursue "running faster", but attempts to "trip others". Although he appears to have won, he actually loses his long-term development and also drags down the progress and prosperity of the world.
Is the United States considering sanctioning Chinese companies on the grounds of Sino Russian cooperation? Chinese response
China has the right to engage in normal cooperation with countries around the world. We have always opposed unilateral sanctions and "long arm jurisdiction" without international legal basis and authorization from the Security Council. China will continue to take necessary measures to resolutely safeguard the legitimate and legitimate rights and interests of Chinese enterprises.
Long term stable win in US stocks! Institutional investors are investing record breaking funds into US farmland
With the rapid growth of global population and the increasing scarcity of natural resources, institutional investors are currently investing record breaking funds into US farmland, and everyone is rushing to buy this asset that can steadily outperform the US stock market in the long run.
The Indian stock market is facing questioning from Wall Street that overvaluation is driving more profit taking
After the Indian stock index rose for the eighth consecutive year, people began to doubt whether this upward trend could continue. Analysts point out that Indian stock profits are still lower than expected, and the expectation of the Federal Reserve adopting a dovish policy and the initial signs of recovery in the Chinese stock market are casting a shadow over the upward prospects of the Indian market.
The US SEC faces an interpretive challenge: Is it illegal to purchase competitor stocks due to a company's favorable behavior?
Even though the US stock market has a history of over a hundred years, law enforcement agencies still have to file a lawsuit to explain what insider trading is. In the upcoming trial in March, the US SEC is about to face a lawsuit against a former biotech executive named Matthew Panuwat, who immediately purchased options from a competitor after receiving news of his company being acquired by Pfizer.
The Red Sea crisis obstructs Egypt's financial path, and the Suez Canal has seen its revenue plummet by about half this year
On Monday (February 19th) local time, Egyptian President Sisi stated that due to continuous attacks by Yemeni Houthi militants on ships, the revenue of the Suez Canal has decreased by 40% to 50% so far this year.
Can black swans fly out? Wall Street Soul Questioning: What Will Happen If the Federal Reserve Does Not Cut Interest Rates
Betting on interest rate cuts has always been a main theme on Wall Street in early 2024, but with the recent series of hot economic data causing the Federal Reserve to tighten its nerves, more and more doubts have emerged in the market: what if the Federal Reserve does not cut rates this year?
As uranium prices soar, Wall Street investment banks and hedge funds also take action
As international uranium prices soar to over $100 per pound, investment banks Goldman Sachs, Macquarie, and some hedge funds have also taken action, preparing to profit from a new round of prosperity in the uranium industry.
Company News
Nvidia stolen home? New AI chips emerge with a speed ten times faster than GPUs
The chip inference speed is 10 times faster than Nvidia GPUs, and the cost is only 1/10 of it; The generation speed of the running large model is close to 500 tokens per second, crushing ChatGPT-3.5 at a speed of about 40 tokens per second - in just a few days, a startup company named Groq has become a sensation in the AI industry.
Musk: The first human subject with brain computer interface or who has recovered from thinking and can control a mouse
On February 20th, Tesla CEO Elon Musk revealed during a live broadcast on social media platform X that Neuralink's first human subject "seems to have fully recovered and has not experienced any adverse reactions as we know. The subject only needs to think and can move the mouse on the computer screen.".
Maximum subsidy! Gexin receives a $1.5 billion subsidy from the US government to expand semiconductor production in the US
On February 19th local time, the US government announced that it will provide $1.5 billion in funding to Global Foundries to expand semiconductor production and strengthen the US domestic supply chain. According to foreign reports, according to a preliminary agreement reached between Gexin and the US Department of Commerce, the company will build a new plant in Malta, New York and expand its existing production scale in Burlington, Vermont.
The AI craze is unstoppable! Nvidia has become the largest trading stock on Wall Street
Driven by the wave of artificial intelligence (AI), the stock prices of large technology companies in the United States and globally have surged, and AI leader Nvidia currently has a market value of nearly $1.8 trillion, ranking third only to Microsoft and Apple in the United States. However, its trading volume ranks first in the US stock market, further proving the importance investors place on AI related bets.
The biggest acquisition case of the year is officially announced! The merger of two major consumer finance companies in the United States is expected to catch up with and surpass Citigroup, a small company
The world's largest acquisition case this year has been officially announced. On Monday (February 19th), Capital One announced that it would acquire credit card lending institution Discover Financial Services for $35 billion through an all stock transaction.
BHP Billiton's H1 asset impairment caused a sharp drop in profits, but demand in the Chinese market remains healthy
On Tuesday, the world's largest mining company, BHP Billiton Group, released its financial report for the first half of the fiscal year. The financial report shows that in the six months ended December 31 last year, due to strong demand for iron ore and other core commodities, the company's revenue remained basically unchanged from the same period last year. However, due to the impact of nickel asset impairment and other provisions, the company's net profit has significantly declined. However, the company emphasizes that it expects developed country markets to gradually recover, while demand in its largest market, China, remains "healthy".