讀後心得

The Dow Jones Industrial Average fell 2,231.07 points on Friday, dropping more than 1,500 points for two consecutive days. Affected by President Trump's tariff policies and China's retaliatory tariffs, the global economic outlook has become uncertain, undermining investor confidence. The S&P 500 Index fell 4.84% and 5.97% on Thursday and Friday, respectively, marking the largest decline since 2020, with a market value plummeting by $5 trillion in just two days. Technology stocks led the decline, with companies like Apple, Nvidia, and Tesla being hard hit. Additionally, TSMC's ADR also plummeted by 6.72%. Trump stated on social media that his policies would not change, further worsening market sentiment. At the close of trading on Friday, the Dow Index stood at 38,314.86 points, the Nasdaq Index at 15,587.79 points, and the S&P 500 Index at 5,074.08 points.

The Dow Jones Industrial Average fell by 2231.07 points on Friday, marking the first time since Thursday's drop of 1679 points that the market has experienced declines exceeding 1500 points for two consecutive days. The U.S. presidential tariff policy has impacted the global economy, with mainland China announcing new tariffs on U.S. goods in retaliation, raising investors' concerns that the trade war could lead to an economic recession, resulting in continued heavy losses in the U.S. stock market.

• The Dow Jones Industrial Average fell by 2231.07 points on Friday, a decline of 5.5%, closing at 38,314.86 points.
• The S&P 500 index dropped by 4.84% on Thursday and fell further by 5.97% on Friday, marking the largest drop since March 2020; it has decreased over 17% from recent highs, with a market value loss of 5 trillion dollars in just two days.
• The Nasdaq index fell by nearly 6% on Thursday and another 5.82% on Friday, entering a bear market.
• The Philadelphia Semiconductor Index saw a decline of 7.6%.

On Friday, technology stocks performed poorly, with the iPhone manufacturer's stock dropping 7.29%, amounting to a total drop of 13% for the week. Additionally, leading AI companies saw their stock prices fall by 7.36%, while electric vehicle manufacturers' stocks slid by 10.42%. These three companies have significant business operations in mainland China and are among those hardest hit by Beijing's retaliatory tariffs. TSMC ADR plummeted 6.72%, ultimately closing at $146.80.

Recently announced reciprocal tariff policies by Trump faced strong opposition from the international community. On Friday, the Chinese Ministry of Commerce stated it would impose a 34% tariff on all U.S. products, disappointing some investors who had hoped to negotiate with Trump before retaliatory measures were taken. Trump appeared to maintain a firm stance, emphasizing on social media on Friday that his policies would not change.

• The Dow Jones Industrial Average closed at 38,314.86 points, a drop of 2231.07 points or 5.5%.
• The Nasdaq index closed at 15,587.79 points, down 962.82 points or 5.82%.
• The S&P 500 index closed at 5,074.08 points, a decrease of 322.44 points or 5.97%.
• The Philadelphia Semiconductor Index closed at 3,597.66 points, down 296.03 points or 7.6%.