Dow Jones sells more than 600 points! Fei Ban has stopped falling, and TSMC ADR has come back to its senses.

The U.S.-Iran conflict may heat up again, pushing oil prices above $100 per barrel. The Dow Jones index plunged more than 600 points on Friday (23rd), the Nasdaq fell slightly, and Philadelphia Semiconductor stopped falling and turned red. Some chip stocks showed signs of rebound. Huida, AMD and TSMC ADRs all rose in early trading.

CNBC reported that investors are still uneasy about the recent sell-off in large technology stocks, and the market is assessing the impact of companies' heavy borrowing to invest in AI infrastructure and rising financing costs on the technology industry. The Nasdaq also opened lower, but some chip stocks began to rebound, showing that technology stocks were not falling in sync across the board.

Data center operator CoreWeave has become the focus of market attention. The company has attracted attention for borrowing heavily to expand its data center business. Its stock price fell 10% on Thursday and fell less than 1% on Friday. The market is worried that the AI ​​industry continues to invest huge amounts of money, and it remains to be seen whether companies can obtain corresponding returns on investment.

Ed Yardeni, president of Yardeni Research, described AI trading as a "bubble" on Thursday, but believed that a moderate cooling was not necessarily a bad thing. He said that it is a good thing to let the AI ​​bubble deflate a little, and he does not think that the bursting of the bubble will necessarily cause problems to the economy. He also pointed out that the bond market is competing with the stock market for funds.

In the bond market, the U.S. 10-year Treasury bond yield rose 1 basis point to 4.9697% on Friday, the 30-year Treasury bond yield was flat, and the 2-year Treasury bond yield fell 2 basis points. In the previous trading day, investors turned to the safety of U.S. Treasuries, driving yields to fall sharply.

Geopolitical risks further add to pressure on oil prices. West Texas Intermediate crude oil futures rose 1.4% on Friday to $100.90 a barrel; Brent crude oil rose 0.75% to $114 a barrel. There are reports in the market that the United States and Israel may be developing plans to attack Iran again, deepening concerns about the re-escalation of regional conflicts.

At 10:11 pm on the 23rd, Taipei time, the Dow Jones plunged 664 points to 52,203 points, the S&P 500 index fell 35 points to 7,628 points, the Nasdaq fell 6 points to 26,001 points, and Philadelphia Semiconductor rose 41 points to 10,773 points.