On Wednesday, a series of economic data released in the United States added further signs of economic slowdown, intensifying concerns about a potential recession. Firstly, the U.S. trade deficit continues to expand, with the trade deficit in goods and services increasing by 7.9% month-on-month in July. Analysts suggest that trade may once again drag down the growth of Q3 GDP by 0.35%. Secondly, the number of job openings in the U.S. in July, as per the JOLTS report, stood at 7.673 million, significantly below the expected 8.1 million, marking the lowest level since early 2021. The number of layoffs rose to 1.76 million, the highest since March 2023, adding to the signs of a cooling labor market.

The Federal Reserve's economic conditions Beige Book was not optimistic about the overall assessment of the economy, with regions experiencing flat or declining economic activity increasing from 5 in July to 9, and most areas seeing a slowdown in consumer spending. The labor market had mixed news; uncertainty about the economic outlook led businesses to be reluctant to hire more staff, but layoffs remained rare. Raphael Bostic, a 2024 voting member and President of the Atlanta Fed, stated that he has stronger confidence in the sustainable decline of the inflation rate towards the 2% target, and officials cannot wait for U.S. inflation to fall back to 2% before cutting interest rates.

Expectations for an interest rate cut have significantly increased. The CME FedWatch Tool showed that the possibility of a 50 basis point rate cut in September rose from 38% on Tuesday to 45%, while the possibility of a 25 basis point cut fell to 55%. After the data release, "risk-off trading" gained momentum, with major U.S. stock indices failing to rebound during the session and continuing to decline at the close. The U.S. Dollar Index (DXY) and U.S. Treasury yields plummeted during the day, with the Japanese Yen significantly outperforming the broader market, and the Swiss Franc and Euro also rising. Safe-haven demand caused gold prices to slightly rise during the session, regaining the $2500 level. The "pessimistic outlook" on the U.S. economic prospect negatively impacted oil demand, pushing U.S. crude oil down nearly 2.2% and below $70.

Internationally, ECB Governing Council member Kazas indicated that measures could be taken to cut interest rates at the next meeting. The Bank of Canada cut interest rates as expected, lowering the policy rate by 25 basis points to 4.25%, marking the central bank's third consecutive rate cut.

Major U.S. stock indices opened lower and rose in the morning, turning positive across the board at one point, but turned negative again during the midday, with only the Dow managing to close higher. The chip index fell more than 1% before turning positive by 1.8%, eventually closing up by 0.3%, while the "fear gauge" VIX rose. Safe-haven trading increased, with utility stocks showing a prominent gain, and energy stocks underperforming due to the decline in crude oil and natural gas prices:

U.S. major stock indices: The S&P 500 index closed down 0.16% at 5,520.07. The Dow, closely related to the economic cycle, closed up 0.09% or 38.04 points at 40,974.97. The tech-heavy Nasdaq closed down 0.3% at 17,084.30. The Nasdaq 100 closed down 0.2%. The NASDAQ Tech 100 Index (NDXTMC), which measures the performance of technology components in the Nasdaq 100, closed down 0.41%. The Russell 2000 index, more sensitive to the economic cycle, closed down 0.19%. The VIX fear index closed up 2.9%, at 21.32.

Following a 2.12% drop on Tuesday, the S&P 500 index closed down 0.16% on Wednesday.

U.S. industry ETFs saw mixed gains and losses. The utility ETF rose nearly 1%, while the global airline industry ETF and the consumer staples ETF each rose about 0.5%. In contrast, the energy industry ETF and the regional bank ETF each fell more than 1%, and the banking industry ETF also fell nearly 1%. The internet stock index ETF fell more than 0.3%.

Of the 11 sectors in the S&P 500 index, the energy sector closed down 1.41%, materials down 0.48%, information technology/technology down 0.41%, telecommunications down 0.38%, and consumer discretionary down 0.05% with the smallest decline, while the utility sector closed up 0.85%.

In terms of news, as uncertainty surrounding the economic outlook intensifies, Bank of America clients net-sold U.S. stocks for the second consecutive week last week, reaching the largest net selling scale since the end of 2020, and also the second-largest net selling scale since the company has had data since 2008. In the week ending August 30, institutions, hedge funds, and retail investors all reduced their holdings of U.S. stocks, with a net sale of $8 billion. Among them, ETFs recorded an outflow of funds for the first time since June. In terms of sectors, technology stocks led the outflow of funds, reaching the largest outflow scale since May. Energy stocks have continued to be sold for the past six weeks."Tech Seven Sisters" see more declines than gains. Tesla closed up 4.18%, "Metaverse" Meta closed up 0.19%, while Nvidia closed down 1.66%, following a 9.53% drop yesterday. On Tuesday, it was reported that the US Department of Justice issued an antitrust investigation subpoena to Nvidia, but Nvidia stated on Wednesday that it did not receive the subpoena. Amazon closed down 1.66%, Google A closed down 0.58%, Apple closed down 0.86%, and Microsoft closed down 0.13%.

Nvidia's two-day decline reached 11.4%, with a market value loss of approximately $333 billion in two days.

After Tuesday's plunge, some chip stocks rebounded. The Philadelphia Semiconductor Index closed up 0.25%; the industry ETF SOXX closed up 0.33%; Nvidia's double long ETF closed down 3.42%. Onsemi closed down 0.33%, Intel closed down 3.33%, with news that Intel's latest manufacturing process failed Broadcom's tests. ASML ADR closed down 4.01%, and UBS downgraded ASML's target price from €1050 to €900. Arm Holdings closed down 2.25%, Applied Materials closed down 0.54%, while TSMC ADR closed up 0.24%, Qualcomm closed up 1.28%, KLA closed up 0.5%, AMD closed up 2.87%, and Broadcom closed up 0.87%. Micron Technology closed up 0.8%.

AI concept stocks showed mixed performance. Advanced Micro Devices closed down 4.14%, BigBear.ai closed down 3.47%, Dell closed down 1.54%, CrowdStrike closed down 2.73%, C3.ai closed down 1.88%, Nvidia's AI voice company SoundHound AI closed down 1.54%, while BullFrog AI was flat, Palantir closed up 0.26%, Oracle closed up 0.9%, and Serve Robotics closed up 13.35%.

Chinese concept stocks also showed mixed performance. The NASDAQ Golden Dragon China Index rose 0.7% before closing down 0.07%. Among ETFs, the China Technology Index ETF (CQQQ) closed down 0.1%. The China Internet Index ETF (KWEB) closed up 0.12%.

Among popular Chinese concept stocks, Pinduoduo closed down 5.12%, Zeekr closed down 2.07%, Baidu closed down 1.23%, Li Auto closed down 1.21%, Tencent Holdings ADR closed down 0.58%, Vipin closed down 0.16%, while Ctrip.com closed up 0.08%, Alibaba closed up 0.24%, JD.com closed up 0.49%, XPeng Motors closed up 0.72%, Meituan ADR closed up 1.06%, Mengniu Dairy ADR closed up 1.71%, NIO closed up 2.17%, and Bilibili closed up 2.87%.

Other key individual stocks include: (1) US Steel (X) closed down 17%, marking the largest single-day decline in seven years, with a cumulative drop of over 21% in the last five trading days. The Biden administration is preparing to block the acquisition of US Steel by Nippon Steel, but US Steel warned that it would have to abandon its traditional blast furnace operations, which would weaken union employment positions and reduce the competitiveness of the US steel industry. (2) The discount variety chain Dollar Tree closed down 22.16%, marking the largest single-day decline since 2001, with second-quarter revenue missing expectations and full-year expectations being downgraded. (3) AI company C3.ai's first-quarter fiscal year subscription revenue fell short of expectations, and its stock price fell as much as 13% in after-hours trading.

European stock markets generally fell, with the pan-European Stoxx 600 index falling about 1% for two consecutive days, and technology stocks suffering greatly:

The pan-European Stoxx 600 index closed down 0.97% at 514.92 points. Most sectors fell, with technology stocks leading the decline with a 3.2% drop, and consumer staples falling 2%. Among the constituents, ASML and ASM International fell at least 5.7%. Volvo Cars' European shares closed down 2.09%, falling more than 6% at one point, with reports that Volvo Cars has abandoned its goal of full electrification by 2030, and BNP Paribas downgraded its rating to sell.

The German stock index closed down 0.83%. The French stock index closed down 0.98%, the Italian stock index closed down 0.54%, the Spanish stock index closed down 0.58%, and the UK stock index closed down 0.35%.The deterioration of US employment prospects has intensified expectations for interest rate cuts, with the yield on 2-year US Treasury bonds falling by more than 10 basis points to a new low of over a year. During the session, the yield curve between the 2-year and 10-year Treasury bonds briefly ended the inversion, marking the second time in two years:

US Treasuries: At the close, the yield on the more policy-sensitive 2-year US Treasury bond fell by 10.71 basis points to 3.7601%, trading within a range of 3.8692%-3.7559%. The yield on the 10-year benchmark US Treasury note fell by 7.58 basis points to 3.7552%, trading within a range of 3.8405%-3.7533%.

The spread between the 2-year and 10-year US Treasury yields rose by 2.725 basis points to -0.688 basis points. At one point during the session, it turned positive, marking the second time since 2022 that the inversion was no longer present.

Capital once again flooded into the bond market, with the 10-year US Treasury yield falling for a second consecutive day to 3.75%, hovering near its lowest level of the year.

After the release of the US JOLTS data, the US dollar index DXY weakened, falling to a low of 101.24, with safe-haven currencies like the yen and Swiss franc performing well, with the yen rising to 143.79 and breaking through 144 to a one-week high:

Dollar: The US dollar index DXY, which measures a basket of six major currencies, fell by 0.46% to 101.28 points, with the decline significantly widening after the release of the US job vacancy data.

Yen: The yen rose by 1.1% against the US dollar, trading at 143.862 yen, with an intraday high of 143.795.

Offshore RMB: The offshore renminbi (CNH) rose by 591 points against the US dollar at the close, trading at 7.11444 yuan, with an intraday high of 7.10577.

Cryptocurrencies rebounded. The largest market cap leader, Bitcoin, turned positive after falling below $56,000 overnight and climbed back above $58,000.

The "pessimistic expectations" for the US economic outlook overshadowed the "positive news" that OPEC+ officials had reportedly delayed increasing production. Both oil prices rose by more than 1% during the session but eventually turned lower, with US oil falling below $70 to a nine-month low and Brent oil breaking through $73:US Oil: WTI October crude oil futures settled down $1.14, a drop of over 1.62%, at $69.20 per barrel.

Brent Oil: Brent November crude oil futures settled down $1.05, a drop of over 1.42%, at $72.70 per barrel.

Intraday Performance: There were reports that OPEC+ is close to reaching a consensus to postpone the production increase plan for October. As a result, US oil and Brent oil reversed the downward trend from the Asian session. European stocks accelerated upward during the session and hit a daily high, with US oil rising nearly 1.6% to approach $71.50, and Brent oil rising over 1.4% to approach $75. However, US economic data intensified concerns about a recession, which is bearish for oil demand prospects, causing both oils to continue to decline. At the end of the session, when both hit daily lows, US oil fell nearly 2.2%, breaking through the $69 mark, and Brent oil fell nearly 1.9%, approaching $72.

Natural Gas: US October natural gas futures settled down over 2.63%, at $2.1450 per million British thermal units.

Both Brent and US oil fell to their lowest levels since December last year.

Gold prices initially fell to a two-week low during the session, but then rose slightly due to recession concerns boosting safe-haven demand and a weaker dollar. However, they still closed below $2,500:

Gold: COMEX December gold futures rose slightly by 0.14% at the close, at $2,526.45 per ounce. Spot gold rose slightly during the Asian session and then continued to decline, hitting a low of over 0.8% during the European stock market morning, approaching $2,470. However, it then continued to rise, and during the US stock market morning, it hit a daily high and returned above the $2,500 mark, with a daily increase of nearly 0.3%. At the close, spot gold rose 0.11%, at $2,495.65 per ounce.

Silver: COMEX December silver futures rose by 0.98% at the close, at $28.622 per ounce. Spot silver rose slightly during the Asian session and then continued to decline, hitting a daily low during the European stock market morning, falling nearly 1% and breaking through the $28 mark. However, it then continued to rise, and during the US stock market morning, it rose nearly 1.1% to approach $28.40.

Most of the basic industrial metals in London fell. The economic indicator "Dr. Copper" closed up $6, at $8,960 per ton, while London aluminum fell by $11, London lead fell by $30, London nickel fell by 1.52%, London tin fell by $246, and London zinc fell by 1.76%.

COMEX copper futures fell by 0.07%, at $4.0890 per pound.Spot gold prices hover around $2,500

Below is the content updated before 23:00 on September 4th

Yesterday, the U.S. August manufacturing PMI data intensified concerns about economic recession, and the data released on Wednesday evening added more signs of a slowdown in the U.S. economy.

Firstly, the U.S. trade deficit continues to expand, with the trade deficit in goods and services increasing by 7.9% month-on-month in July. Following the second quarter's trade drag on GDP, analysts say that trade may once again reduce the growth of the third quarter GDP by 0.35%. Secondly, the number of job vacancies in the U.S. in July was 7.673 million, significantly below the expected 8.1 million, reaching the lowest level since early 2021. The number of layoffs rose to 1.76 million, the highest level since March 2023, adding more signs of a cooling labor market and intensifying concerns about a potential economic recession.

At the beginning of the U.S. stock market, U.S. stocks opened lower across the board, continuing yesterday's downward trend. After the release of the JOLTs job vacancy data, the three major U.S. stock indexes fell in the short term, with only the Dow Jones Industrial Average rising. However, they continued to rise, and the main U.S. stock indexes are now all up:

The three major U.S. stock indexes: The S&P 500 opened down more than 0.4% and then rose more than 0.4%. The Dow Jones Industrial Average, which is closely related to the economic cycle, opened down nearly 0.16% and then continued to rise, up nearly 0.6% or 236 points. The technology stock-heavy Nasdaq fell nearly 0.9% and then rose more than 0.5%.

At the beginning of the U.S. stock market, the main industry ETFs rose and fell differently, with the utility ETF rising more than 1%, the financial industry ETF rising 0.6%, the global technology stock index ETF falling 0.6%, and the biotechnology index ETF falling 0.5%.

The "Tech Seven Sisters" rose and fell differently. Apple's decline expanded to nearly 2.4%, Amazon fell more than 1.7% and then made up most of the loss, Microsoft fell more than 1.2% at the beginning and then made up most of the loss, "Metaverse" Meta fell more than 1.5% at the beginning and then rose more than 0.1%, Google A rose more than 1% and then gave up most of the gain, Nvidia fell nearly 3.6% at the beginning and then rose more than 1.8%, closing down 9.53% yesterday with a market value of nearly $280 billion, and reports said that the U.S. Department of Justice issued an antitrust investigation subpoena to Nvidia. Tesla's gain expanded to more than 4.7%.

Most chip stocks rebounded and rose. The Philadelphia Semiconductor Index fell more than 1.3% at the beginning and then rose nearly 1.8%, closing down 7.75% yesterday; AMD once rose more than 4.4%, Qualcomm once rose more than 2.6%, TSMC's U.S. stocks once rose more than 1.6%, Micron Technology once rose more than 1.7%, ASML ADR fell nearly 5.5% at the beginning and then halved the decline, UBS lowered ASML's target price from 1050 euros to 900 euros. Intel fell more than 2.2% at the beginning and then made up most of the loss, with news that Intel's latest manufacturing process failed Broadcom's test, undermining Intel's transformation efforts.

AI concept stocks rose and fell differently. Super Micro Computer fell nearly 7.6% and then halved the decline, BigBear.ai fell more than 4.8% and then made up most of the loss, Dell fell more than 2.9% and then made up most of the loss, CrowdStrike fell more than 2.9% and then made up most of the loss, Nvidia's AI voice company SoundHound AI fell more than 2.4% and then rose more than 1.9%, Oracle fell more than 1% and then rose more than 0.3%.Chinese concept stocks experienced mixed movements. The NASDAQ Golden Dragon China Index initially rose by nearly 0.7%, but the increase was halved. Among popular Chinese concept stocks, Pinduoduo once fell by more than 4.6%, Baidu once fell by more than 4.1%, while Bilibili once rose by more than 5.1%, NIO once rose by more than 3.2%, XPeng once rose by more than 3.5%, NetEase once rose by more than 2.8%, and Meituan ADR once rose by more than 2.2%.

In other key individual stocks: Dollar Tree's stock price once fell by nearly 21.6%, as the second-quarter revenue did not meet expectations and the full-year forecast was downgraded.

The following content was updated before 21:50.

On Wednesday, the tide of global safe-haven assets continued, with weak U.S. manufacturing data for August triggering concerns about an economic recession, leading to a new "darkest hour" in the U.S. market since "Black Monday."

Today, the three major U.S. stock indices opened lower collectively. The Philadelphia Semiconductor Index fell by 1%, continuing yesterday's downturn, NVIDIA fell by more than 3%, and ASML fell by nearly 5%.

Pan-Asia Pacific stocks fell across the board, with NVIDIA dragging down technology stocks and Japanese chip stocks like Tokyo Electron falling collectively. European stocks opened with a collective decline, with the highest drop in the EURO STOXX 50, reaching 1.5%.

Reports indicate that OPEC+ is discussing the possibility of delaying production increases, causing a short-term lift in international oil prices.

At the opening of the U.S. stock market, the three major indices continued their downward trend, with NVIDIA falling by more than 3%. Intel fell by over 1.5%, and ASML fell by nearly 5%.

Pan-Asia Pacific stocks closed lower across the board: the Nikkei 225 index closed down by 4.24% at 37,047.61 points; the Topix index closed down by 3.65% at 2,633.49; the South Korean Seoul Composite Index closed down by 3.15% at 2,580.80 points; the Taiwan Stock Exchange Capitalization Weighted Stock Index closed down by 4.5% at 21,092.75 points; the Australian stock index S&P/ASX 200 closed down by 1.88% at 7,950.50 points.

Japanese government bond yields fell collectively: the 10-year and 5-year Japanese government bond yields both fell by 3 basis points, and the 3-year Japanese government bond yield fell by 2 basis points.Chip stocks plummet: Tokyo Electron closed down 9.6%, TSMC closed down 5.4%, and SK Hynix closed down 8.02%. Pre-market in the US, Nvidia fell nearly 3%, ASML fell nearly 3%, and Advanced Micro Devices (AMD) fell nearly 3%.

European stocks opened lower across the board: the Euro Stoxx 50 fell 1.49%, the German DAX fell over 1%, the UK FTSE 100 fell 0.83%, and the French CAC 40 fell 1.12%.

Oil prices surged in the short term. WTI crude oil rose by more than $1, now at $70.73 per barrel. Brent crude oil prices climbed to $74.16 per barrel.

[21:45 Update]

At the beginning of the US stock market, the Philadelphia Semiconductor Index fell 1%, continuing the previous day's downturn.

The double long ETF of Nvidia fell 6.28%, Nvidia fell over 3%, AMD fell 6.1%, ASML's ADR fell 4.2%, and ARM, Nvidia, and Nano-Semiconductors fell by up to 3.69%. On Tuesday (September 3rd, the first trading day after the long weekend in the US stock market), the Philadelphia Semiconductor Index closed down 7.75%, marking the largest single-day drop since March 2020.

[21:35 Update]

The market is waiting for the release of US job vacancy data, with the Nasdaq falling 0.70% at the beginning of trading, the S&P 500 falling 0.34%, and the Dow Jones falling 0.02%.

Star tech stocks showed mixed performances, with AMD rising over 3% at the start; Nvidia fell over 2%, as reports indicated that the US Department of Justice issued an antitrust investigation subpoena to Nvidia; Intel fell over 1.5%, with news that Intel's latest manufacturing process did not pass Broadcom's tests.

ASML fell nearly 5%, and UBS lowered its target price for ASML from €1050 to €900.【20:20 Update】

U.S. stock index futures edged lower, with S&P 500 futures contracts falling as much as 0.4%, suggesting that after yesterday's 2.1% plunge, the opening decline today may be moderated.

Nvidia, which suffered a significant drop overnight, fell 1.6% in pre-market trading.

Traders remain uneasy about the speed and severity of the U.S. economic slowdown, with the CBOE Volatility Index rising above 22.

The U.S. job openings report is scheduled for release on Wednesday, which will signal whether the labor market is cooling further. Data released yesterday showed that U.S. manufacturing activity has contracted for the fifth consecutive month. As the market focus shifts from inflation to concerns about economic growth, the pressure on the stock market and other risky assets from negative macroeconomic data is increasing.

【19:10 Update】

OPEC+ representatives stated that after oil prices fell to the lowest level since last year, OPEC+ is discussing the possibility of postponing the planned production increase for October. According to the original plan, crude oil production was to be increased by 180,000 barrels per day.

In response to this news, oil prices rose slightly, with WTI crude oil surging by more than $1 in a short period, now at $70.73 per barrel. Brent crude oil prices climbed to $74.16 per barrel.

【Below is the 16:00 Update】

The three major U.S. stock index futures declined collectively, with S&P 500 futures down 0.3%, Nasdaq futures down 0.6%, and Dow futures down 0.2%.Before the U.S. stock market opens, semiconductor stocks are generally falling, with NVIDIA down nearly 3%, ASML down nearly 3%, and Advanced Micro Devices (AMD) down nearly 3%.

【Updated at 15:00】

European stocks opened lower across the board, with the German DAX down 1.34%, the UK's FTSE 100 down 0.83%, the French CAC 40 down 1.12%, and the Euro Stoxx 50 down 1.49%.

【Updated at 14:24】

European stock index futures are generally falling, with the Euro Stoxx 50 futures down 1.34%, the German DAX futures down 1.23%, the French CAC 40 futures down 0.5%, and the UK's FTSE 100 futures down 0.4%.

【Updated at 13:40】

The Nikkei 225 index fell below 37,000 points, dropping as much as 4.39% at one point, hitting a new low since August 15th, now down 4.35%.

The Taiwan Stock Exchange Capitalization Weighted Stock Index closed down 4.5% at 21,092.75 points. TSMC closed down 5.4%.

【Updated at 8:50】

SK Hynix's decline narrowed to 6.3%, while NVIDIA continued to bearish trend.

The Nikkei 225 index once fell more than 4%, now down 3.45%.【Updated at 8:20】

The Nikkei 225 index opened 1.7% lower, and the TOPIX index opened 1.8% lower. The South Korean Kospi index opened 3% lower.

The drop in Japan's TOPIX index widened to 3%.

Affected by the overnight plunge of NVIDIA in the U.S. stock market, Tokyo Electron and other Japanese chip stocks fell collectively.

NVIDIA plummeted by 9.5%.

Tokyo Electron plunged 9.6%.

SK Hynix in the South Korean market once fell by more than 9%, and the drop has now narrowed to 7.37%.

The MSCI Asia Pacific Index fell by more than 1%.

On Wednesday, Asian stocks plummeted, with Japanese and South Korean stocks falling sharply, NVIDIA dragging down tech stocks, Tokyo Electron and other Japanese chip stocks falling collectively, and European stocks generally falling.

Weak U.S. manufacturing data for August sparked concerns about a recession, leading to a new "darkest hour" in the U.S. market since "Black Monday".All three major U.S. stock indices hit new lows since August 5th. Among them, the tech-heavy Nasdaq Composite suffered the largest decline, falling by 3.26%.

Tech stocks faced a massive sell-off, with chip giant NVIDIA plummeting after last week's earnings report, losing $340 billion in market value in one day, followed by a drop in other chip stocks.

Asian stock markets followed Wall Street's downturn and also plummeted, with the Nikkei 225 leading the decline in Asian stock markets, and the Topix opening lower as well.

Asian stock markets fell across the board: the Nikkei 225 index dropped 3.1% to 37,486.32 points; the Topix index fell 2.67% to 2,660.41; the South Korean KOSPI index fell 2.24% to 2,606.16 points; the Taiwan Stock Exchange Capitalization Weighted Stock Index fell 3.44% to 21,332.67 points; the Australian S&P/ASX 200 index fell 1.80% to 7,957.70 points.

Japanese government bond yields fell across the board: the 10-year and 3-year Japanese government bond yields both fell by 2 basis points, and the 5-year Japanese government bond yield fell by 3 basis points.

Chip stocks plummeted: Tokyo Electron fell by 9.6%, TSMC fell by 6.53%, and SK Hynix fell by 6.54%.

【Updated at 15:00】

European stocks opened lower across the board, with the German DAX falling 1.34%, the UK FTSE 100 falling 0.83%, the French CAC 40 falling 1.12%, and the Euro Stoxx 50 falling 1.49%.

【Updated at 14:24】

European stock index futures fell across the board, with the Euro Stoxx 50 index futures falling 1.34%, the German DAX index futures falling 1.23%, the French CAC 40 index futures falling 0.5%, and the UK FTSE 100 index futures falling 0.4%.【Updated at 13:40】The Nikkei 225 index fell below 37,000 points, dropping as much as 4.39% during the day, hitting a new low since August 15th, currently down by 4.35%.

The Taiwan Stock Exchange Capitalization Weighted Stock Index closed 4.5% lower at 21,092.75 points. TSMC closed down by 5.4%.

【Updated at 8:50】

SK Hynix narrowed its loss to 6.3%, while NVIDIA continued to trend bearish.

The Nikkei 225 index once fell over 4%, now down by 3.45%.

【Updated at 8:20】

The Nikkei 225 index opened 1.7% lower, and the Tokyo Stock Price Index opened 1.8% lower. The South Korean Kospi opened 3% lower.

The Tokyo Stock Price Index in Japan expanded its losses to 3%.

Affected by NVIDIA's significant drop in the U.S. stock market overnight, Japanese chip stocks such as Tokyo Electron collectively declined.

NVIDIA plummeted by 9.5%.Tokyo Electron plummets by 9.6%.

SK Hynix once dived by over 9% in the South Korean market, with the decline now narrowing to 7.37%.

The MSCI Asia Pacific Index falls by more than 1%.