Tech Stocks Drag Down Markets on Wednesday
Key Points:
* Interest rates remained unchanged at 4.25%-4.5% after the latest Federal Reserve (Fed) decision.
* Tech stocks led the market decline, with the Nasdaq Composite (^IXIC) down 0.51%.
* Nvidia (NVDA) faced additional pressure due to concerns about potential export restrictions.
* Meta (META) and Microsoft (MSFT) shares fell following earnings releases.
Market Impact:
The Federal Reserve's decision to keep rates unchanged and the removal of language indicating progress towards inflation goals initially weighed on markets. However, Fed Chair Jerome Powell clarified the language change as "cleanup" rather than a signal.
Nvidia continued its decline after a Bloomberg report suggested the Trump administration was considering further curbs on chip exports to China.
Meta shares slipped as first-quarter sales guidance fell short of expectations and capital expenditure plans were revised upwards.
Microsoft stock fell after its cloud revenue missed estimates, overshadowing strong AI revenue growth.
Fed Insights:
* Powell emphasized that the labor market appeared to be stabilizing, with unemployment rates remaining steady.
* He highlighted moderating shelter inflation as progress towards the Fed's 2% goal but cautioned that further progress was needed.
* Powell acknowledged some "elevated uncertainty" due to policy shifts, including tariffs and fiscal measures.
Other Market News:
* Tesla (TSLA) shares saw initial declines after missing earnings estimates, but later reversed course to rise 3% in after-hours trading.
* IBM (IBM) shares saw a significant boost after the company reported higher revenue and free cash flow forecasts.
Outlook:
市场情绪 zůstane muted as investors await further earnings releases and monitor the potential impact of trade and policy developments on the tech sector.