ME News reports, June 18 (UTC+8): A quick overview of the news from German business news outlet Singularity:
• Fed Updates: The FOMC kept interest rates unchanged, but the dot plot showed that nine officials expect at least one rate hike this year; the two-year Treasury yield rose to 4.18%, and the 10-year yield rose to 4.49%, putting pressure on high-valuation growth stocks across the board.
US stock market performance: The Dow Jones Industrial Average fell 0.98% to 51,492.55 points, the S&P 500 fell 1.21%, and the Nasdaq fell 1.34%; the Philadelphia Semiconductor Index bucked the trend, rising 1.38%, with funds continuing to flock to memory and semiconductor hardware.
• Major tech stocks under pressure: Meta fell 5.44%, Microsoft fell 3.79%, Amazon fell 3.46%, Google fell 2.53%, Tesla fell 2.05%, Nvidia fell 1.34%, and Apple fell 1.10%; funds are shifting from platform companies to companies facing hardware bottlenecks.
• Hardware supply chain strengthens: Western Digital rose 4.56%, Seagate rose 3.37%, Micron rose 2.20%, Broadcom rose 4.30%, Applied Materials rose 4.35%, and ASML rose 3.54%; the tight supply and demand logic for storage, semiconductor equipment, and AI server-related hardware continues.
• The new economy is cooling down: SpaceX shares fell 4.95%, as high-valuation long-term cash flow assets began to materialize amid expectations of high interest rates.
• Notable Sectors: In the crypto market, Bitcoin rebounded, with long-term holders accounting for a record 79% of the circulating supply; K33 suggests this may signal the end of the bear market. PayPal Ventures is gradually shutting down; CME will sue the CFTC for opposing its approval of crypto perpetual futures. (Source: ME)
