[The currency circle has plummeted, what are the future prospects? 】
September 3 is the first trading day for U.S. stocks in September. Before the market opened that day, Bank of Japan Governor Kazuo Ueda reiterated that the Bank of Japan will continue to adopt interest rate hike policies as long as the economic outlook is in line with expectations. Affected by these remarks, U.S. stocks Changes occurred before the market opened that day, with all three major stock index futures falling slightly. After the opening, poor U.S. economic data further dampened market confidence. S&P Global data showed that U.S. manufacturing production fell for the first time in seven months in August, and concerns about economic growth have resurfaced. The manufacturing PMI fell to 47.9 from 49.6 in July. Meanwhile, the Institute for Supply Management's (ISM) manufacturing PMI shrank for a fifth straight month, missing estimates of 47.5 but up from July's 46.8. Affected by the above-mentioned bad news, the three major U.S. stock indexes all jumped short and opened lower. There was no rebound throughout the day, and their decline accelerated at the end of the day. Among the main sectors, technology growth stocks became the hardest hit area on the day. Among them, several major technology giants whose market capitalization accounted for a large proportion of the United States all experienced significant declines that day. For example, the chip giant Nvidia fell nearly 10% that day, and its market capitalization dropped from 3 trillion. The U.S. dollar fell to 2.64 trillion U.S. dollars. After the market closed that day, it was reported that the U.S. Department of Justice had issued a subpoena to Nvidia, which may be involved in antitrust-related investigations. This news caused Nvidia's stock price to fail to stop falling after the market closed. Almost no other technology giants were spared. Apple fell 2.72% that day, Microsoft fell 1.85%, and Google fell 3.94%. Dragged down by these heavyweights, the U.S. market also fell across the board that day. The volatility index VIX, which measures market panic, soared 33% to 20.72 that day, but it is still far below the highest level of 65 hit by the VIX during a sharp market decline in early August. Investors' enthusiasm for AI faded. The market plunge on September 3 gave U.S. stock investors a sense of deja vu. Just one month ago, global stock markets, including U.S. stocks, suffered "Black Monday," which was also caused by the Bank of Japan. The announcement of an interest rate hike, coupled with negative news about U.S. economic data, caused changes in the global market. The Nikkei index once experienced panic selling, falling more than 10% in a single day, and U.S. stocks also suffered a significant correction.
