【CNMO News】On April 26, local time in the United States, affected by many unfavorable factors such as international tensions, weak US economic data and the possible decline in the performance of technology giants in the first quarter, investors sold a large number of stocks out of fear, and the three major US stock indexes suffered a heavy setback. By the close, the Dow was down 2.38 percent, the S&P was down 2.81 percent and the NASDAQ was down 3.95 percent. Among them, technology stocks led the decline, Tesla plunged more than 12%, the market value evaporated about 125 billion US dollars (about 819.4 billion yuan) overnight, while Apple, Microsoft, Google and other 5 major technology companies, the market value evaporated more than 2 trillion yuan overnight.
The stock market fell sharply
Recently, listed technology companies in the United States have begun to announce first-quarter results, due to many unfavorable factors, many technology companies' revenue and profits have declined compared with before. On April 19, streaming media giant Netflix announced its first-quarter financial report, and the company's global net paying users decreased by 200,000 in the first quarter, a difference of nearly 3 million from the previous market expectation of 2.73 million. Affected by this news, on April 21, Netflix's stock price plunged by 39%, and also affected streaming media companies such as Disney and Warner, and also made investors' confidence in technology stocks that were once considered "fragrant" greatly reduced.
Share prices of selected U.S. technology stocks
Among the companies, Musk's Tesla's recent stock price performance is also very weak, although the previous first quarter financial report showed that its profits and sales have increased significantly compared with the same period last year, but still failed to save its stock price. Tesla shares plunged 12.18 percent last night, wiping out about $125 billion (about $819.4 billion) overnight. Musk's value also shrank by more than 200 billion yuan in six weeks. Some investors are worried that musk will focus part of his energy on the daily operation of Twitter after the acquisition of Twitter, which may affect tesla's daily operations.
Just last night, Google's parent company Alphabet also announced its first-quarter earnings report, its net profit was $16.436 billion, down 8.3% year-on-year, and the revenue growth rate also hit the lowest year-on-year growth rate since the end of 2020, and as more and more technology companies began to disclose financial reports, the related uncertainty risks may be further aggravated.