Wednesday evening, stocks fell across the board in European and American markets.

As of this writing, the Nasdaq index has fallen by more than 2%, and the S&P 500 index has fallen by more than 1%.

European stocks fell across the board. The German DAX index fell by 0.33%, the French CAC40 index fell by 0.51%, and the UK FTSE 100 index fell by 0.30%.

US chip stocks fell across the board.

US chip stocks fell sharply.

ASML fell by more than 5%. The company's new orders for the first quarter plummeted by 45%, far short of expectations.

AMD fell by more than 5%. Previously, AMD stated that US export controls apply to its MI308 product, and the export restrictions on MI308 are expected to result in costs of up to $800 million.

NVIDIA fell nearly 7% due to US restrictions on H20 chip exports to China.

Chinese stocks fell across the board. The NASDAQ Golden Dragon China Index fell by more than 2%.

In terms of individual stocks, Meituan fell by more than 8%, JD Group fell by more than 3.5%, and Alibaba, Xiaomi Group fell by more than 3%.

Multiple small US businesses sue Trump administration's tariff policies

The latest US economic data shows that March retail sales rose by 1.4% month-over-month, the largest increase since January 2023, higher than the expected 1.3%, with the previous value at 0.20%.

US retail sales rose significantly in March, largely due to a substantial increase in car purchases. This indicates that US consumers are rushing to buy cars before the implementation of car tariffs.

However, the repeated changes in the so-called "reciprocal tariff" plan in the United States have raised concerns about the economic recession and the credibility of the US dollar in the market.

S&P Global Ratings warned that the massive debt level and political dysfunction in the United States may lead to another downgrade of its credit rating. The WTO downgraded its global merchandise trade outlook, expecting a contraction by 2025.

The latest information shows that multiple small US businesses have jointly filed a lawsuit in the US Court of International Trade, arguing that the US government has no authority to impose comprehensive tariff increases without congressional approval, and seeking to block the government from implementing tariff measures under the International Emergency Economic Powers Act. The lawsuit was initiated by the Freedom Justice Center, a non-profit, non-partisan litigation organization, on behalf of five small US businesses.

Source: https://www.toutiao.com/article/7493915741478044196/

Disclaimer: This article solely represents the views of the author. Please express your opinions by clicking the 'Like' or 'Dislike' buttons below.