Wen/Shuai Kecong
On the early morning of March 5th Beijing time, following the historic high set by the S&P 500 and Nasdaq last Friday, the US stock market closed slightly lower on Monday. Investors are waiting for the congressional testimony of Federal Reserve Chairman Powell and Friday's non-farm data to estimate the outlook for policy changes at the Federal Reserve.
As of the close, the Dow Jones Industrial Average fell 0.25% to close at 38989.83 points; The Nasdaq fell 0.41% to close at 16207.51 points; The S&P 500 index fell 0.12% to 5130.95 points. The S&P 500 index rose as high as 5149.67 points during trading, setting a new all-time high.
Due to receiving a sky high penalty from the European Union, Apple's stock price closed down 2.54% at $175.09 per share, marking the largest daily decline in over two months. Its market value evaporated by 70.4 billion US dollars (approximately 506.9 billion yuan) in a single day, with the latest estimate of approximately 2.7 trillion US dollars.
On March 4th local time, the European Union imposed a penalty of 1.84 billion euros (approximately 14.38 billion yuan) on Apple. The reason is that Apple has "abused" the advantageous position of the Apple Store in the release of streaming music software for 10 years, preventing streaming music software vendors from informing consumers that "there are cheaper paid music services outside of the Apple ecosystem," thereby violating EU antitrust regulations. Apple subsequently issued a statement stating that it will file an appeal.
Nvidia's stock price closed 3.6% higher, reaching a new historical high with a market value of $2.13 trillion. At present, Nvidia's market value has surpassed Saudi Aramco and become the third largest company in the world, second only to the two giants Microsoft and Apple.
In addition, Chinese concept stocks performed poorly, with the Nasdaq China Golden Dragon Index falling 3.97% to 6061.36 points. Alibaba's stock price fell 3.51%, Pinduoduo fell 3.76%, JD.com fell 4.87%, and Ctrip fell 5.21%. Beike fell 3.69%, NIO fell 7.79%, Xiaopeng Motors fell 8.04%, and Ideal Motors fell 13.64%.