Svmuu News: On Friday, the three major U.S. stock indices opened lower, with tech stocks falling across the board.the Philadelphia Semiconductor Index has fallen more than 20% from its all-time closing high and is poised to enter a bear market; SK Hynix ADRs fell below their $149 initial public offering price for the first time; and SpaceX’s stock price has dropped 38% from its peak, with its market capitalization set to shrink by approximately $1 trillion from its peak.AMD fell more than 7%, Intel. dropped more than 6%, and TSMC. declined more than 5%. Some analysts noted that the ongoing correction in chip stocks has moved beyond fundamental factors and is largely driven by shifts in investment styles and market preferences.
In addition, Federal Reserve Chair Wash’s expressions of concern over inflation during his congressional testimony have heightened market expectations for interest rate hikes, while “hawkish” signals from other Fed officials have further intensified market jitters. Among them, U.S. Representative Logan has explicitly called for interest rate hikes;U.S. Representative Schmid warned that the risk of inflation accelerating further in the coming months remains. On the geopolitical front, the outlook for a U.S.-Iran conflict remains uncertain, dampening market risk appetite. (Jin Shi)