Wait and See the Fed Decision

Large American technology and Internet companies will release their financial reports this week, and the Federal Reserve Committee (Fed) will also announce monetary policy this week. Investors are cautious before the policy is announced. On the 27th The U.S. stock market closed down. The three major indexes ended their five-day streak. The Nasdaq index hit its biggest one-day decline since May 12.

According to comprehensive media reports, Apple, Microsoft, and Google’s parent company Alphabet’s after-hours announcement of earnings have dragged down the Nasdaq and S&P 500 together with Amazon. Amazon is expected to announce earnings later this week.

The electric car manufacturer Tesla fell 2% after the company announced a higher-than-expected second-quarter financial report, but said that the global shortage of chips caused factory shutdowns to remain serious.

Intel fell 2.1% after the company announced that it would manufacture chips for Qualcomm and develop a blueprint for expanding its new foundry business.

Defensive stocks such as real estate stocks and utility stocks were the two S&P 500 index sectors with the best performance of the day, and the price of U.S. Treasuries rose, which also showed that investors were in a risk aversion.

At the close of US stocks today, the Dow Jones Index fell 85.79 points, or 0.24%, to 35,058.52.

The S&P 500 Index fell 20.84 points, or 0.47%, to 4,401.46.

The Nasdaq Index fell 180.14 points, or 1.21%, to 14,660.58 points.

The Philadelphia Semiconductor Index fell 60.95 points, or 1.86%, to 3,215.97 points.