Market Recap
On Monday, US markets closed sharply lower, led by a sell-off in tech stocks. Nvidia tumbled nearly 9%, dragging major indices further into their February downtrend. Concerns over slowing U.S. manufacturing, rising inflation, and impending tariff deadlines fueled investor anxiety.
Former President Donald Trump reaffirmed that the U.S. will impose a 25% tariff on Mexican and Canadian imports starting Tuesday, March 4. He also stated there is “no room for negotiation” on Canada’s tariffs.
Meanwhile, Canada warned of retaliatory tariffs on $107 billion worth of U.S. goods, escalating trade tensions. U.S. Commerce Secretary Howard Lutnick suggested that while tariffs take effect Tuesday, Trump could adjust the final rate.
US Markets Highlights
Tech Selloff: Nvidia (-8.5%) | Broadcom (-6%) | Amazon (-3%) | Tesla, Google, Microsoft (-2%).
Sectors Hit Hard:
- Semiconductors & Blockchain: Super Micro (-13%) | Dell (-7%) | Bit Digital (-6%) | Intel, Coinbase (-4%).
- Chinese Stocks: Nasdaq Golden Dragon Index (-2.98%) | WeRide (-11%) | Li Auto (-10%) | Nio, Kingsoft Cloud (-8%).
US Markets – Technical Analysis
US Markets Performance
- Dow Jones: ▼ -649.67 pts (-1.48%) to 43,191.24
- Nasdaq: ▼ -497.09 pts (-2.64%) to 18,350.19
- S&P 500: ▼ -104.78 pts (-1.76%) to 5,849.71
Hong Kong Markets Surge as Alibaba Leads
Tech Mixed: Bilibili, Baidu (+2%) | NetEase (+1%) | Alibaba, Lenovo (-1%).
Oil Stocks Drop: China’s “Big Three” oil companies declined as OPEC+ reaffirmed plans to increase oil production from April.
Auto Sector Weakens: BYD (-6%) led sector losses.
Hong Kong Market – Technical Analysis
Hong Kong Market Performance
- Hang Seng Index: ▼ -0.46% to 22,901.24
- Hang Seng Tech Index: ▼-0.27% to 5,521.76
- China Enterprises Index: ▼ -0.74% to 8,357.00
Mainland China Markets Highlights
A-Shares Lower: The Shanghai Composite fell, while over 3,300 individual stocks posted gains.
Sectors Leading: Energy storage, robotics, and titanium parts surged.
Sectors Lagging: Battery tech, EV components, and semiconductor materials saw losses.
China Markets – Technical Analysis
China Indices Performance
- Shanghai Composite: ▼ -0.01% to 3,316.67
- Shenzhen Component: ▼ -0.15% to 10,633.54
- ChiNext Index: ▼ -0.94% to 2,175.94
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Disclaimer
This information contained in this blog is for general reference only and is not intended as investment advice, a recommendation, an offer, or an invitation to buy or sell any financial instruments. It does not consider any specific recipient’s investment objectives or financial situation. Past performance references are not reliable indicators of future performance. Doo Prime and its affiliates make no representations or warranties about the accuracy or completeness of this information and accept no liability for any losses or damages resulting from its use or from any investments made based on it.
The above information should not be used or considered as the basis for any trading decisions or as an invitation to engage in any transaction. Doo Prime does not guarantee the accuracy or completeness of this report and assumes no responsibility for any losses resulting from the use of this report. Do not rely on this report to replace your independent judgment. The market is risky, and investments should be made with caution.
