US stocks were also miserable in August? Wrong! Nvidia, Amazon, and Google are still rising!
NVIDIA, which has risen more than 230% this year, led the way with a 5% increase in August. Amazon and Google also saw increases of over 3% and 2% respectively. Meta experienced the largest decline of the month, falling more than 7%. Apple fell over 4% and Tesla dropped 3.5%. Will the downward trend continue in September?
Hong Kong stocks fell in August, and US stocks were equally disappointing.
In the past month, the S&P 500 index fell by 1.77%, marking the largest monthly decline since February this year; the Dow Jones index fell by 2.36%, and the tech-heavy Nasdaq index also dropped by over 2%.
However, not all the tech giants that investors are most concerned about experienced a decline in August!
NVIDIA, which has risen by over 230% this year, led the gains with an increase of over 5%; Amazon and Google also rose by over 3% and 2% respectively.
Of course, the performance of other tech giants was not as impressive: Meta experienced the largest decline, dropping by over 7%; Apple fell by over 4%, Tesla by 3.5%, Microsoft by over 2%, and Netflix by over 1%.
Looking back at the whole month of August, the AI boom that led the strong performance of the US stock market in the first half of the year has subsided, and the 10-year US Treasury yield has surged due to the Federal Reserve's hint of maintaining high interest rates. As a result, technology stocks, which were already highly valued, have been constrained, and even NVIDIA, which delivered impressive earnings reports, has lost its momentum.
Wall Street has noticed that if history is any guide, the US stock market is expected to be more volatile in the upcoming September. Perhaps only when the Federal Reserve stops raising interest rates and suppresses medium- to long-term US bond yields, will there be a slight breathing space for the US stock market.