A major capital outflow occurred in the US stock market as US President Trump temporarily canceled his plan to impose tariffs on eight European countries starting in February, thus easing trade tensions.
- The Dow Jones Industrial Average ultimately fell 285.30 points (-0.58%) to close at 49,098.71.
- The S&P 500 rose 2.26 points (+0.03%) to 6,915.61.
- The Nasdaq Composite Index climbed 65.22 points (+0.28%) to 23,501.24.
However, market risk aversion has not completely dissipated, with blockchain concept stocks plummeting and precious metals leading the gains.
The three major indices have seen two consecutive weeks of declines.
Trump initially drove volatility this week with his Greenland issue and threats of tariffs on Europe, but his abrupt change of attitude on Friday eased selling pressure during the session.
All three major indices closed lower this week, with the Dow Jones and S&P 500 both falling for the second consecutive week.
In terms of individual stocks, Intel's inaccurate earnings forecast caused it to plunge 17%, dragging down the Dow Jones Industrial Average by more than 100 points; Intel rose 1.5% and Microsoft climbed 3.28%, supporting the technology sector.
Blockchain stocks continued to decline, while silver broke through $103.
According to Alternative data , the cryptocurrency fear and greed index is 25 today (24 yesterday), compared to an average of 50 last week, and is likely to remain in the "extreme fear" range over the weekend.
Bitcoin, considered "digital gold," is expected to perform poorly in 2026, leading to continued selling pressure on related stocks.
- MSTR plunged 7.8%
- Coinbase fell by approximately 5.5%.
- Circle (CRCL) fell 7.5%.
In contrast, precious metal assets continued their strong upward trend.
- Spot silver surged as much as 7.34%, reaching $103 per ounce.
- Gold prices have risen 141.3% year-to-date.
The US dollar index fell from 108.5 to 98, and the demand for industrial metals driven by AI and green energy industries boosted precious metal buying.
The sector divergence is also reflected in commodities and the technology hardware supply chain. Market funds are gradually shifting towards metals and energy, which are supported by spot inventory and industry demand. Looking ahead, if blockchain-related legislation (such as the Clarity Act) remains unclear, crypto concept stocks may continue to be under pressure.
