讀後心得

The U.S. stock market suffered a sharp decline last Friday, losing a market value of $5.4 trillion due to panic among investors sparked by the trade war. The Dow Jones Industrial Average dropped by 2,231.07 points, the S&P 500 index fell by 322.44 points, marking the worst day for the S&P 500 since 2020, with only 14 stocks experiencing an increase, while Nvidia and Apple each dropped over 7%. Market analysts indicated that the trade tensions could lead to an economic recession, and Federal Reserve Chairman Powell also mentioned that tariffs might have a long-term impact on inflation.

According to foreign reports, the US stock market performed poorly last Friday, with a market value evaporating by $5.4 trillion in just two days. The global trade war pushed by the US government has caused panic among investors, and the Federal Reserve Chairman predicts that tariffs will have a lasting impact on inflation. At the close, the Dow Jones Industrial Average fell by 2,231.07 points, a decline of 5.50%, settling at 38,314.86 points; the S&P 500 index plummeted by 322.44 points, a decrease of 5.97%, closing at 5,074.08 points; the Nasdaq index dropped by 962.82 points, down 5.82%, closing at 15,587.79 points; and the Philadelphia semiconductor index declined sharply for two consecutive days, dropping by 296.03 points, a decrease of 7.60%, closing at 3,597.66 points.

The S&P 500 index's closing decline last Friday was close to 6%, marking the worst day since March 2020. Only 14 individual stocks rose that day, while all other constituents fell. All 11 sectors of the S&P 500 index were down, with Nvidia and Apple both falling more than 7%, and Tesla plunging 10%. Over the past two trading days, the S&P 500 index has dropped a total of 11%, the last time such a severe situation occurred was in March 2020. Meanwhile, the Nasdaq 100 index fell sharply by 6.07%, entering a bear market. The index's 20% decline since the February peak is only surpassed by the situations during the COVID-19 pandemic in 2020 and the burst of the internet bubble in 2000.

Last Friday, the Federal Reserve Chairman pointed out in a speech in Virginia that the impact of new tariffs on the economy may exceed expectations, and the Federal Reserve must ensure that it does not trigger more severe inflation problems. During the Q&A session, he emphasized that the Fed is not in a hurry to adjust interest rates, despite external pressures to cut rates. The chief strategy analyst of an investment management company stated that the market is currently facing severe challenges and may become even tougher in the future, as the escalating trade war could lead to a recession in the US. At the same time, China's retaliatory measures are anticipated, which will inevitably cause further economic damage, unless there is a possibility for concessions.