U.S. stock market opens: Dow Jones Industrial Average opens down over 200 points, chip index falls 1.4%

The S&P 500 index opened down 21.53 points, a decrease of 0.35%, at 6052.55 points;

The Dow Jones Industrial Average opened down 61.01 points, a decrease of 0.14%, at 43656.47 points, potentially marking the longest consecutive decline since 1978;

The Nasdaq Composite Index opened down 78.27 points, a decrease of 0.39%, at 20095.62 points.

Among the Dow components, NVIDIA fell 2.3%. Microchip Technology fell 0.1%, while Tesla rose 2.3%.

Bilibili rose 3.2%, Li Auto and Pinduoduo rose at least 1.5%, Baidu and Nio rose over 0.5%, ZEEKR fell 0.5%, Pinduoduo fell 1.4%, and New Oriental fell 2.2%.

The China concept ETF YINN rose 1.4%.

NVIDIA will release the new generation Blackwell architecture RTX 50 series graphics cards on January 7 next year, Beijing time; the RTX 5090 graphics card will be equipped with a record-breaking 32GB of GDDR7 memory; on December 16, during intraday trading, the company had once retreated over 10% from its historical closing high, entering a technical correction zone.

Bank of America Securities downgraded the rating of chip manufacturer Microchip Technology from "Neutral" to "Underperform," and lowered the target price from $80 to $65.

Mizuho raised Tesla's target price from $230 to $515 and upgraded its rating from Neutral to Outperform