Federal Reserve Chairman Jerome Powell expressed concerns during a Wednesday speech, stating that the central bank may face a dilemma in controlling inflation while supporting economic growth.
Following his remarks, U.S. stock market losses sharpened. The DJIA tumbled by as much as 974 points, or 2.4%, closing below the 40,000-mark, down 699 points, or 1.7%, at 39,669. The S&P 500 shed 120 points, or 2.2%, closing at 5,275.
The Nasdaq plunged 516 points, or 3.1%, closing at 16,307, nearing bear market territory. The technology sector led the declines, with NVIDIA (NVDA.US) receiving notification from the U.S. government that its H20 chip exports to China require a license. NVIDIA recorded approximately USD5.5 billion in related expenses in 1Q25, and its stock plummeted 6.9%. Tesla (TSLA.US) also slid 5%.
AMD (AMD.US) plummeted over 7%, while Micron (MU.US) slipped more than 2%. ASML (ASML.US) reported a 45% QoQ slide in new orders in 1Q25, with its stock declining 7%.
Large-cap techs faced pressure as well. Apple (AAPL.US), Meta (META.US) and Microsoft (MSFT.US) each sagged over 3%.
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AAStocks Financial News
Web Site: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| Nvidia (C) |
10573 |
150 (-) |
0.084 |
5.1 X |
| Nvidia (C) |
10615 |
135 (-) |
0.162 |
4.0 X |
| Nvidia (P) |
10538 |
116 (-) |
0.295 |
2.9 X |
| Nvidia (P) |
10581 |
95 (-) |
0.191 |
2.7 X |
| TSLA (C) |
10591 |
300 (-) |
0.455 |
3.7 X |
| TSLA (P) |
10468 |
250 (-) |
0.455 |
3.9 X |
| TSLA (P) |
10604 |
190 (-) |
0.345 |
2.4 X |
| AMD (C) |
10572 |
130 (-) |
0.113 |
4.0 X |
| AMD (P) |
10450 |
118.5 (-) |
0.470 |
2.4 X |
| META (C) |
10579 |
800 (-) |
0.126 |
7.3 X |
| META (P) |
10563 |
600 (-) |
1.790 |
2.7 X |
| APPLE (C) |
10551 |
254 (-) |
0.033 |
11.4 X |
| APPLE (C) |
10614 |
236 (-) |
0.148 |
6.6 X |
| APPLE (P) |
10495 |
218 (-) |
0.420 |
4.9 X |
| MSFT (C) |
10557 |
515 (-) |
0.051 |
11.0 X |
| MSFT (P) |
10511 |
390 (-) |
0.520 |
5.8 X |
