Late at night, U.S. stocks all declined across the board, with the Dow dropping 500 points and over 3,800 stocks falling! Tesla fell nearly 3%, Chinese concept stocks declined! Cryptocurrencies plummeted, international oil prices surged | U.S. stock market opening

Reporter | Du Yu

Editor | He Xiaotao Yi Qijiang Proofread by | Xu Shaohang

On the evening of March 27, Beijing time, all three major U.S. stock indexes opened lower and fell further.

As of the time of this release, the Dow Jones Industrial Average was down more than 1%, falling 500 points; the Nasdaq was down 1.3%, and the S&P 500 Index was down 0.96%. More than 3,800 individual stocks in the market were declining.

The U.S. technology “Magnificent Seven” saw only Apple rise. As of the time of this release, Tesla was down 2.77%; Amazon, Facebook, and Microsoft were all down more than 2%; Nvidia was down 1.71%; and Google was down 1.42%.

China’s Golden Dragon Index was down 0.79%. Among them, XPeng—Zhaoche (Xiaoma Zhixing) was down more than 6%, while Kingsoft Cloud and Uxin were down more than 4%.

Among China concept stock tech leaders, PDD Holdings, Xiaomi Group ADR, and BYD Company ADR rose, while Alibaba was down more than 1%. Baidu Group, Tencent Holdings ADR, and JD Group all fell.

On the trading screen, software and real estate sectors fell sharply, while the petroleum and petrochemicals and food and beverage sectors rose.

Cryptocurrency concept stocks fell sharply. Strategy and Coinbase were down more than 6%, while Robinhood and Circle were down more than 5%.

In precious metals, as of the time of this release, spot gold was up 1.66%, at $4,454.47 per ounce; spot silver rose 0.7%, at $68.56 per ounce.

International oil prices surged. U.S. oil was up 3%, at $97.29 per barrel; Brent was up 1.66%, at $103.58 per barrel.

Major cryptocurrencies fell across the board. Bitcoin’s drop widened further; as of the time of this release, it was down 4%, with the latest price at $66,317. In addition, Ethereum was down 4%, and Solana coin was down 4.96%.

Coinglass data shows that over the past 24 hours, 127,000 people were liquidated across the entire market, with a total liquidation amount of $488 million.

On the news front, the direction of the U.S.-Iran situation remains unclear.

According to CCTV News, Iran’s Mehr News Agency reported today (March 27) that the U.S. and Israel carried out airstrikes on Iran’s Khuzestan steel plant and Isfahan Mubarak steel plant, and the power plant supporting the Mubarak steel plant was also hit.

Pierre Wunsch, a member of the European Central Bank’s Governing Council and governor of the National Bank of Belgium, said clearly in an interview with Bloomberg Television on Friday that if the Iran conflict is not brought to an end before June, the ECB would “very likely” have to take action.

He also said he “agrees” with the market’s pricing for at least two rate hikes this year. Wunsch’s remarks are among the most specific public statements by ECB officials so far regarding the timing window for rate hikes, and they have direct reference value for the bond and interest-rate markets.

Cover image source: Meiri Daily Media Image Library; AI-generated

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