Market focus shifted to concerns over non-performing loans (NPLs) in banks, coupled with the double whammy of ongoing trade tensions and a potential U.S. government shutdown, leading to a volatile session for U.S. stocks on Thursday.
The DJIA briefly plunged 472 points, or about 1%, to bottom at 45,781, and closed down 301 points, or approximately 0.7%, at 45,952. The S&P 500 finished down 41 points, or 0.6%, at 6,629. The Nasdaq fell 107 points, or 0.5%, to 22,562.
Given heightened concerns over the health of loan businesses, regional bank stocks plummeted. Jefferies Financial Group (JEF.US) fell off 10.6%. Zions Bancorporation (ZION.US) plunged 13% after the bank made massive loss provisions for NPLs to several borrowers. JPMorgan (JPM.US), Bank of America (BAC.US), and Citigroup (C.US) slid 2-3%.
AI stocks had a good run, with Salesforce (CRM.US) reducing its daily gain to about 4%, as the company expected its FY2030 revenue to cross US$60 billion, surpassing market expectations. NVIDIA (NVDA.US) rose 1.1%. Micron Technology (MU.US) climbed 5.5%. Oracle (ORCL.US) confirmed a cloud partnership agreement with Meta, boosting its stock by 3.1%.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| Nvidia (C) |
10055 |
230 (-) |
0.189 |
5.1 X |
| Nvidia (C) |
10721 |
175 (-) |
0.355 |
5.0 X |
| Nvidia (P) |
10057 |
165 (-) |
0.265 |
3.3 X |
| Nvidia (P) |
10714 |
125 (-) |
0.041 |
5.9 X |
| META (C) |
10003 |
900 (-) |
0.600 |
6.0 X |
| META (P) |
10757 |
700 (-) |
1.080 |
3.8 X |
| AMZN (C) |
10004 |
280 (-) |
0.118 |
6.9 X |
| AMZN (P) |
10700 |
180 (-) |
0.129 |
5.2 X |
| TSLA (C) |
10010 |
530 (-) |
0.750 |
4.0 X |
| TSLA (P) |
10011 |
370 (-) |
0.580 |
3.0 X |
| APPLE (C) |
10758 |
243 (-) |
0.530 |
5.4 X |
| APPLE (P) |
10793 |
210 (-) |
0.086 |
6.8 X |
