Feng Huang Wang Cai Jing·2025-08-20 23:04Group 1 - The U.S. stock market experienced mixed results, with the Nasdaq down 0.67%, S&P 500 down 0.24%, and Dow Jones up 0.04% [1] - Major tech stocks saw declines, with Intel leading the drop at approximately 7%, while Google, Tesla, Apple, and Amazon fell over 1% [1] - The Nasdaq Golden Dragon China Index rose by 0.33%, with mixed performances among popular Chinese stocks, including a rise of 8% for GDS Holdings and over 3% for Tiger Brokers [1] Group 2 - The Federal Reserve's July meeting minutes revealed that only two officials supported a rate cut, with the majority favoring the current rate of 4.25%-4.50% [2] - The release of July's non-farm payroll data showed job additions far below expectations, with an increase in unemployment and a drop in labor participation rate to its lowest since late 2022 [2] - The minutes indicated a significant internal division within the Fed regarding interest rate decisions, marking the first time since 1993 that multiple officials publicly disagreed [2] Group 3 - The S&P 500 index saw a significant sell-off, losing approximately $1 trillion in market capitalization over four days due to concerns over the Fed's hawkish stance and high valuations in tech stocks [3] - Nvidia experienced a nearly 4% drop before the release of the Fed minutes, while Palantir saw a maximum intraday decline of over 9%, marking a cumulative drop of 23.87% since August 12 [3] Group 4 - Investor sentiment is divided, with some viewing the market downturn as a buying opportunity, while others believe that high valuations necessitate profit-taking [4][5] - Analysts suggest that the current market has fully priced in future positives, leaving little room for error, which could lead to a fragile balance [5]