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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, U.S. technology stocks fell sharply, with the Nasdaq 100 sliding 513 points (-2.04%) to 24,687.
The S&P 500 slipped 108 points (-1.57%) to 6,832, and the Dow Jones dropped 669 points (-1.34%) to 49,451.
Apple (AAPL) slumped 5.00%, the biggest daily loss since last April. The U.S. Federal Trade Commission’s chairman has called on the tech giant to review possible political bias in Apple News.
Other tech giants also fell, with Tesla (TSLA) dropping 2.62%, Meta (META) down 2.82%, Amazon (AMZN) down 2.20%, and Nvidia (NVDA) down 1.64%.
Semiconductor stocks lost more than the market in general, with Intel (INTC) sliding 3.75%, Advanced Micro Devices (AMD) down 3.58%, and Broadcom (AVGO) down 3.38%.
Meanwhile, Sandisk (SNDK) jumped 5.16%, and Micron (MU) was up 0.88%.
Cisco Systems (CSCO) plunged 12.32% after reporting lower-than-expected quarterly gross profit margins.
AppLovin (APP) sank 19.68% despite reporting quarterly figures that surpassed market expectations.
Meanwhile, Equinix (EQIX) rose 10.41%. The data-center operator gave an upbeat full-year revenue forecast citing strong AI-related demand.
The U.S. 10-year declined 7.4 basis points to 4.100%.
In Europe, the DAX 40 dipped 0.01%, the FTSE 100 closed 0.67% lower, while the CAC 40 was up 0.33%.
Gold lost the handle of 5,000 dollars an ounce again, retreating 162 dollars (-3.20%) to 4,922 dollars an ounce.
U.S. WTI crude futures slid 1.79 dollars (-2.77%) to 62.84 dollars a barrel. The International Energy Agency projected a global supply surplus of 3.73 million barrels per day in 2026, adding that oil demand would increase more slowly than expected.
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The U.S. dollar index was stable at 96.91. The latest U.S. initial jobless claims declined to 227,000, the first decline after three straight weeks of increases.
EUR/USD was little changed at 1.1870.
USD/JPY fell 48 pips to 152.76, down for a fourth straight session. Japan's producer price inflation slowed to 2.3% year on year in January from 2.4% in December.
GBP/USD dipped 2 pips to 1.3623. U.K. data showed that gross domestic product growth was stable at 0.1% quarter on quarter in the fourth quarter.
AUD/USD dropped 38 pips to 0.7088.
USD/CHF fell 23 pips to 0.7691, while USD/CAD advanced 36 pips to 1.3610.
Gold lost the handle of 5,000 dollars an ounce again, retreating 162 dollars (-3.20%) to 4,922 dollars an ounce.
Bitcoin kept riding on a downtrend, slipping 1% to 66,300 dollars.
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In Asian trading hours, EUR/USD and GBP/USD were broadly flat, at 1.1870 and 1.3620 respectively.
Meanwhile, USD/JPY rebounded to 153.10.
Gold bounced to 4,976 dollars.
Bitcoin remained subdued at 66,449 dollars.
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In the U.S., inflation rate is expected to ease to 2.4% year-on-year in January.
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