Concerns about a U.S. recession loom, with the three major futures contracts falling before the market opens, Tesla down over 2%, and European stocks mixed, with the German DAX 30 index up 0.7%
Before the US stock market opens, most semiconductor stocks are down, with NVIDIA falling nearly 2% and ASML down about 1%. Ed Yardeni stated, "Amid the fog of Trump 2.0's firings and tariffs, it is becoming increasingly difficult to see the economic situation clearly. It's no wonder that the default position of the stock market is risk-averse, as the market has been in a correction."
On Monday, March 10, concerns about the health of the U.S. economy reversed investors' risk appetite, leading to a collective decline in the three major U.S. stock index futures, with the U.S. dollar index briefly falling to its lowest point since November of last year.
Ed Yardeni, president of Yardeni Research, stated, "In the fog of Trump 2.0's firings and tariffs, it is becoming increasingly difficult to see the economic situation clearly. No wonder the default position of the stock market is risk aversion; the stock market has been in a correction."
Before the U.S. stock market opened, most Chinese concept stocks fell, with XPeng down about 2%, Nio down about 1%, and Pinduoduo down about 1%. Most semiconductor stocks also declined, with NVIDIA down nearly 2%, ASML down about 1%, and TSMC down 0.24%. Tesla fell more than 2%.
The three major U.S. stock index futures all fell, with S&P 500 futures down 0.55%, Nasdaq 100 futures down 0.65%, and Dow futures down 0.43%.
European stocks were mixed, with Germany's DAX 30 index up 0.67%, the UK's FTSE 100 index down 0.26%, France's CAC 40 index up 0.09%, and the Euro Stoxx 50 index down 0.1%.
Most Asia-Pacific markets rose, with the Nikkei 225 index closing up 0.4% at 37,028.27 points; Japan's Topix index rose 0.3% to 2,700.76 points; and South Korea's KOSPI rose 0.27%.
The yield on the U.S. 10-year Treasury bond fell by 4 basis points to 4.277%.
Japan's base salary growth reached a 32-year high, leading to a further rise in Japanese government bond yields, with the 10-year Japanese government bond yield rising by 5 basis points to 1.570%, the highest intraday level since October 2008, currently reported at 1.547%.
The US dollar index once fell to its lowest point since November last year, currently reported at 103.93 points.
Oil prices once fell to near their lowest point since September.
