Chip stocks plummet! The stock market experienced a significant decline today, with many technology companies seeing their shares drop sharply. Investors are concerned about rising interest rates and global economic uncertainties, which have led to increased volatility in the tech sector. Experts advise caution and recommend diversifying portfolios to mitigate potential losses during this turbulent period.

On February 3rd, local time, the three major U.S. stock indices all closed lower.

Among the standout companies in the U.S. stock market that day, Walmart’s performance drew market attention as its market capitalization first surpassed $1 trillion, making it a member of the “Trillion Dollar Club” dominated by U.S. tech companies.

U.S. Stock Market Indices Close Lower

On February 3rd, local time, the three major U.S. stock indices all closed lower, with the Dow Jones Industrial Average down 0.34% to 49,240.99 points, the S&P 500 down 0.84% to 6,917.81 points, and the Nasdaq Composite plunging 1.43% to 23,255.19 points.

Most large-cap tech stocks in the U.S. stock market declined, with Microsoft and Nvidia falling nearly 3%, Meta dropping over 2%, Amazon down nearly 2%, Google down over 1%, and Apple falling less than 1%. Tesla’s stock price rose slightly, with an increase of less than 1%.

Energy stocks rose across the board, with ExxonMobil up nearly 4%, ConocoPhillips, Schlumberger, and Western Oil up over 3%, and Chevron up more than 2%.

Aviation stocks collectively rose, with Southwest Airlines and United Airlines up over 3%, American Airlines up more than 2%, and Delta Airlines up nearly 2%.

Most chip stocks declined, with the Philadelphia Semiconductor Index down 2.07%, NXP Semiconductors and Micron Technology falling over 4%, Marvell Technology and Canaan Semiconductor dropping nearly 4%, Qualcomm and Broadcom down over 3%, and Microchip Technology down nearly 2%. SanDisk surged again, closing more than 4% higher.

U.S. precious metals concept stocks performed strongly, with AngloGold Ashanti up over 6%, Pan American Silver and Gold Fields Gold up over 5%, Coeur Mining up over 4%, and Barrick Gold up more than 2%. Precious metals futures rebounded sharply, with COMEX gold futures up 6.83% to $4,970.5 per ounce; COMEX silver futures up 10.27% to $84.915 per ounce. At the opening today, gold and silver prices dipped slightly.

Most Chinese concept stocks declined, with the Nasdaq Golden Dragon China Index down 0.94%. Specific stocks included China National Chemical Corporation New Energy and Bilibili, both down over 4%, BaWang Tea and Xunlei down nearly 4%, Kingsoft Cloud and Autohome down over 3%, Qihoo 360 and Alibaba down close to 3%. Additionally, Atossa Solar Energy rose nearly 5%, Dingdong Maicai, Xpeng Motors, and Hesai Technology rose over 4%, Wuchip Technology up over 3%, Li Auto up nearly 3%, and Huazhu Group up more than 2%.

Walmart’s Market Cap Surpasses $1 Trillion for the First Time

Among the standout companies in the U.S. stock market that day, Walmart’s performance attracted market attention.

Market data showed that Walmart’s stock price once broke through $128, closing with an increase of nearly 3%, and its market cap surpassed $1 trillion for the first time.

While other former peers generally languished, Walmart, as a global retail giant, was quite “unusual” and joined the “Trillion Dollar Club” led by U.S. tech companies.

Compared to some traditional retail giants that lagged in transformation, leading to rapid declines in market position, Walmart’s global retail dominance has been challenged in recent years, but through flexible strategic adjustments, it remains a leader in the global retail and supermarket industry.

Additionally, in recent years, Walmart has been actively enhancing its “tech” attributes, attempting to leverage the internet and technology to drive transformation based on market changes.

U.S. House of Representatives Passes Appropriations Bill, Partial Government “Shutdown” Resolution

According to CCTV News, on February 3rd, the U.S. House of Representatives voted to pass appropriations bills for several federal departments for the remainder of this fiscal year, resolving the partial government “shutdown” deadlock that began on January 31st. After passing, the bill will be sent to the President for signature and enactment.

The bill will fund several federal departments through September 30th, the end of this fiscal year, and provide two weeks of funding to the Department of Homeland Security, which has been embroiled in controversy and protests over immigration enforcement actions, allowing parties to continue negotiations on improving the department’s operations.

Due to the federal appropriations bill passed by the Senate on January 30th not being promptly reviewed and approved by the House, multiple federal departments have been in a “technical shutdown” since January 31st.