US bourse descended for the second consecutive trading day on Wednesday, as investors digested a new round of corporate earnings and economic data while keeping an eye on the latest geopolitical developments.
Techs were subdued, with the Nasdaq leading the downfall, closing down 238 points or 1% at 23,471. The S&P 500 dipped 37 points or 0.5% to 6,926. The DJIA dropped 42 points or 0.1% to 49,149.
Techs hijacked the market, with chip stocks being exceptionally weak. Broadcom (AVGO.US) plunged 4.2%. Nvidia (NVDA.US) reportedly received a notification from Chinese customs not to approve its H200 chips for entry into China, causing Nvidia to fall 1.4%. Micron (MU.US) also lost over 1%.
Banks were similarly under pressure. Wells Fargo (WFC.US) logged fourth-quarter revenue miss, with its stock price sliding 4.6%. Although Bank of America (BAC.US) and Citigroup (C.US) reported earnings beat, their stock prices both dived more than 3%.
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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 (-) |
0.093 |
7.9 X |
| Nvidia (C) |
11007 |
205 (-) |
0.315 |
4.6 X |
| Nvidia (P) |
10057 |
165 (-) |
0.135 |
5.4 X |
| Broadcom (C) |
10072 |
435 (-) |
0.200 |
6.9 X |
| Broadcom (P) |
10073 |
310 (-) |
0.345 |
4.6 X |
