US Markets Fall for Fourth Straight Session, Tesla Sinks Over 8%

S&P 500 Falls for Fourth Straight Session, Tesla Sinks Over 8%

Market Recap

On Wednesday, US markets ended mixed, with the Nasdaq and S&P 500 declining for the fourth consecutive session. Tesla plunged over 8%, bringing its market cap below $1 trillion. Market sentiment weakened as U.S. consumer confidence posted its steepest drop in nearly four years. Investors remain wary of policy uncertainties under Trump’s administration and their potential impact on global economic growth.

Economic data showed further signs of a slowdown. The Philadelphia Fed’s Business Outlook Survey recorded a decline in February:

Business Activity Index: -12.9 (previously 2.2)
New Orders Index: -1.3 (previously 1.6)
Prices Paid Index: 23.4 (previously 28.9)
Full-Time Employment Index: 2.5 (previously 1.5)
Wage & Benefits Cost Index: 25.3 (previously 24.5)

The Conference Board reported a 7% drop in U.S. consumer confidence for February, falling to 98.3—below the expected 102.3—further signaling economic concerns. Investors are now looking ahead to Friday’s PCE Price Index, the Fed’s preferred inflation gauge.

US Markets Highlights

Tech Stocks Decline:

Tesla (-8%) | Nvidia, Google (-2%) | Microsoft, Meta (-1%)
Semiconductor, cryptocurrency, and EV stocks led the declines
Canaan (-16%) | Strategy (-11%) | Coinbase (-6%) | Rivian (-4%)

Chinese Stocks Rebound:

Nasdaq Golden Dragon China Index +0.58%
Li Auto (+13%) | XPeng (+5%) | Alibaba, Bilibili (+4%) | JD.com, Kingsoft Cloud (+2%)

US Markets – Technical Analysis

US Markets Performance

Dow Jones: ▲ 159.95 pts (+0.37%) to 43,621.16
Nasdaq: ▼ 260.54 pts (-1.35%) to 19,026.39
S&P 500: ▼ 28.00 pts (-0.47%) to 5,955.25

Hong Kong Markets Surge as Alibaba Leads

Hong Kong stocks opened higher, driven by gains in tech and real estate sectors:

Tech Stocks: JD.com +7%, Meituan +6%, Alibaba, Bilibili +4%, Xiaomi, Tencent +3%
Real Estate Stocks: Shimao Group +13%
CXO Biotech Stocks: Joincare Pharmaceutical +10%

Hong Kong Market – Technical Analysis

US Markets and HK — (Hang Seng Index, 1-day chart)

Hong Kong Market Performance

Hang Seng Index: ▲ 2.54% to 23,619.24
Hang Seng Tech Index: ▲ 3.69% to 5,909.26
China Enterprises Index: ▲ 2.63% to 8,722.93

Mainland China Markets Highlights

A-shares opened higher and extended gains throughout the session, with over 3,800 stocks advancing. Sector highlights:
Gainers:

Robotics, Harmonic Drives, Precision Machinery surged
Auto Sector: Li Auto +12%, Great Wall Motors limit-up

Losers:

Healthcare, Vaccine-related stocks declined
Agriculture stocks underperformed

China Markets – Technical Analysis

US Markets and China — (SSE Composite Index, 1-day chart)

China Indices Performance

Shanghai Composite: ▲ 0.5% to 3,362.63
Shenzhen Component: ▲ 0.24% to 10,880.35
ChiNext Index: ▲ 0.26% to 2,246.43

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