U.S. stocks fell sharply, Apple fell more than 5%, Tesla fell more than 8%, and Daily Youxian fell 21% – yqqlm

Beijing time on May 12, the US Bureau of Labor Statistics announced that the CPI by the end of April rose by 8.3%. The market believes that although it is lower than the 8.5% at the end of March, it is not enough to make the Fed change its attitude of actively raising interest rates. US stocks fell sharply. The Nasdaq fell more than 3%. As of the close, the Dow fell 326.63 points, or 1.02%, to close at 31834.11 points; the S&P 500 fell 65.87 points, or 1.65%, to close at 3935.18 points; the Nasdaq fell 373.44 points, or 3.18%, to close at 11364.24 point.

Most of the major technology stocks in the Chinese concept stocks closed down. In terms of new energy vehicles, Weilai fell by more than 5%, Xiaopeng Motors fell by more than 2%, and Li Auto rose by more than 2%. In addition, Pinduoduo fell by nearly 5%, Alibaba and Jingdong fell by more than 3%, and Baidu and Bilibili fell by more than 1%.

Major U.S. tech giants all fell:

▲ Major US technology giants

Major Chinese tech stocks were overwhelmingly down:

▲ China’s major technology stocks

China concept stock price

Other Chinese concept stocks that rose include:

▲ Other Chinese concept stocks that have risen

Companies that fell include:

▲ Other Chinese stocks that fell

US/Foreign tech stocks

Other foreign tech stocks that rose included:

▲ Other foreign tech stocks that rose

Companies that fell include:

▲ Other foreign tech stocks fell

▲ Tesla recalls nearly 130,000 cars to be “repaired” through OTA software update package

Tesla has recalled nearly 130,000 vehicles, including the 2021-2022 Model S, Model X, and the 2022 Model 3 and Model Y, due to an overheating issue with the center display CPU that could cause damage during fast charging Causes the CPU to slow down and even restart. The National Highway Traffic Safety Administration is asking Tesla to recall the affected vehicles because the defect affects critical functions. However, the way to fix the defect is still a software update package released through OTA, and the user does not need to take the car to the repair shop for repair. The software update package will improve the CPU temperature management function.

▲ Shanghai Gigafactory cuts production due to supply chain problems

In addition, Tesla was forced to suspend most production activities at the Shanghai Gigafactory due to the supply of parts. The Shanghai Gigafactory plans to produce less than 200 vehicles per day, well below the nearly 1,200 vehicles since the resumption of production on April 19.

▲ Since the Q1 earnings report, Amazon’s market value has evaporated by about $400 billion

In today’s regular trading, Amazon’s stock price once bottomed out at $2,088.78, a drop of 4.1%, and the closing price of $2,107.44 reached a new low in about two years. Since the first-quarter earnings report was released after the U.S. stock market closed on April 28, Amazon’s stock price has fallen by about 27.2%, and its market value has evaporated by about $400 billion. So far this year, Amazon’s stock has fallen 36.9%.

▲ Amazon has lost about $5 billion in the past 6 weeks due to holding Rivian

Rivian shares fell as much as 12% after Ford announced the sale of Rivian shares worth more than $200 million. The lock-up period for Rivian’s IPO ended on Sunday. Amazon, which held 158 million Rivian shares as of March 31, has not disclosed the sale of the stock. The $30.19 drop in Rivian’s stock since March 31 means Amazon has lost $4.77 billion during the period.