Market Overview - The US stock market indices experienced declines last Friday, with the Nasdaq showing the largest drop due to ongoing concerns about rising inflation and potential economic recession [6] - European stock markets also fell, particularly the DAX 30 index in Germany [6] - In the Hong Kong market, both the Hang Seng Index and the National Index declined, with the National Index experiencing a larger drop [6] - The Shanghai Composite Index and Shenzhen Component Index both saw declines, with the Shanghai Composite Index dropping more significantly [6] Economic Data - The Michigan Consumer Sentiment Index for March in the US was reported at 57.9, matching market expectations [7] - Personal income in the US for February increased by 0.8%, exceeding the market expectation of 0.4% [7] - Personal spending in the US for February was reported at 0.4%, slightly below the expected 0.5% [7] - The PCE price index month-on-month for February was 0.4%, above the expected 0.3% [7] - Economic confidence in the Eurozone for March was reported at 95.2, below the expected 96.7 [7] Corporate News - Elon Musk announced that his AI startup xAI has acquired the X platform, valuing the latter at 33 billion USD [8] - Country Garden reported a narrowed loss of 32.8 billion RMB for 2024, significantly lower than the record loss of 178 billion RMB in 2023 [8] - Kaisa Group's overseas debt restructuring plan has been approved by the Grand Court of the Cayman Islands [8] - Morgan Stanley is reportedly considering its first issuance of Panda bonds, with an initial scale of 3 billion RMB [8] International Economic News - US President Donald Trump expressed openness to negotiating tariff reductions but does not expect an agreement before April 2 [9] - The EU is preparing a list of concessions to negotiate with the US regarding tariffs [9] - A key inflation indicator in the US accelerated while consumer spending fell short of expectations [9] - Ukraine is seeking modifications to a proposed economic agreement with the US to secure more investment [9] - Chinese President Xi Jinping met with international business representatives to boost investor confidence amid rising trade uncertainties [9]