Global Markets: US Stock Indices Decline Across the Board, Nasdaq Falls Over 2%, Super Micro Computer Plummets Over 33%, Gold and Silver Continue Downward Trend

U.S. Stock Market: The three major U.S. stock indices all declined on March 20. At the close, the Dow Jones Industrial Average fell 443.96 points to 45,577.47, down 0.96%; the S&P 500 dropped 100.01 points to 6,506.48, down 1.51%; the Nasdaq Composite declined 443.08 points to 21,647.61, down 2.01%. This week, the Dow has fallen 2.11%, the Nasdaq 2.07%, and the S&P 500 1.90%, marking four consecutive weeks of declines for the three indices.

Large tech stocks all declined, with Tesla down over 3%, Google-C and Meta down over 2%, Microsoft and Amazon down over 1%, Apple slightly down, and Netflix slightly up. In the chip sector, AMD plunged over 33% after co-founder was arrested for smuggling AI servers. Storage concept stocks fell collectively, with SanDisk down over 8%, Western Digital down over 7%, Seagate Technology down over 5%, and Micron Technology down over 4%. Optical communication stocks led the declines, with Applied Optoelectronics down over 14%, Coherent down over 9%, and Lumentum down over 8%.

Drone and nuclear power concept stocks all declined, with Unusual Machines down over 20%, Red Cat Holdings down over 12%, Ondas down over 6%; Vistra down over 12%, Centrus Energy nearly 9%, NuScale down over 4%.

Most popular Chinese concept stocks declined, with the Nasdaq Golden Dragon China Index down 2.92%, Kingsoft Cloud down over 9%, Xpeng Motors down over 8%, NIO and GDS Holdings down over 7%, Hesai Photonics down over 6%, Bilibili down over 4%.

European Markets: The three major European stock indices all declined on March 20. The FTSE 100 closed at 9,918.33, down 145.17 points or 1.44%; France’s CAC 40 closed at 7,665.62, down 142.25 points or 1.82%; Germany’s DAX closed at 22,380.19, down 459.37 points or 2.01%.

Commodity Markets: International oil prices rose on March 20. At the close, NYMEX WTI crude futures for the current month increased $2.54 to $98.09 per barrel, up 2.66%. COMEX gold futures for the current month fell $113.70 to $4,492.0 per ounce, down 2.47%. COMEX silver futures fell $3.40 to $67.81 per ounce, down 4.78%. Spot gold dropped $156.33 to $4,494.44 per ounce, down 3.36%. Spot silver declined $4.91 to $67.9 per ounce, down 6.74%.

Overnight Headlines

Trump Says He Is Considering Gradually De-escalating Military Actions Against Iran

On March 20, President Trump posted on social media that “we are very close to achieving our goal,” and the U.S. is considering gradually de-escalating military actions against Iran.

Trump Allegedly Considering Occupying or Blockading Kharq Island to Force Iran to Reopen the Strait of Hormuz

According to CCTV International, Axios citing sources reports that the Trump administration is considering pressuring Iran by occupying or blockading Kharq Island to force the reopening of the Strait of Hormuz. Several sources say the plan is still under evaluation and no final decision has been made.

Pentagon Reports Reinforcing Forces in the Middle East, Market Risk Aversion Continues

According to CCTV News, on Friday, three U.S. officials revealed that as the U.S.-Israel-Iran conflict enters its third week, the U.S. military is deploying thousands of additional Marines and naval personnel to the Middle East. They stated that no decision has been made to send ground troops into Iran, but these deployments will enhance future operational capabilities in the region.

U.S. Defense Officials Have Developed Detailed Plans for Deploying Ground Forces to Iran

On March 20, local time, CCTV learned that U.S. Department of Defense officials have prepared detailed plans for deploying ground forces to Iran. Trump has been weighing whether to deploy ground troops in the region. It remains unclear under what circumstances he might authorize such deployment.

UK Authorizes U.S. Military to Use Its Bases for Strikes; Iran: Will Exercise Self-Defense

On the evening of March 20, Iranian Foreign Minister Amir Abdollahian stated that the UK has authorized the U.S. to use its military bases to launch attacks on Iran, and Iran will exercise its right to self-defense in response. Abdollahian said most UK citizens do not want to be involved in the “selective war” launched by Israel and the U.S. against Iran. He criticized Prime Minister Rishi Sunak for ignoring domestic opinion and allowing UK bases to be used for “aggression” against Iran, putting the British public at risk. He emphasized, “Iran will exercise its right to self-defense.”

South Korea Joins G7 Statement Condemning Iran’s Blockade of the Strait of Hormuz

On the evening of March 20, South Korea’s Ministry of Foreign Affairs announced that South Korea has decided to join the joint statement issued by the UK, France, Germany, Italy, Japan, the Netherlands, and Canada regarding the Strait of Hormuz. The ministry said this decision reflects South Korea’s basic stance on the security of international maritime routes, international community trends, and the direct impact of the blockade on Korea’s energy supply and economy.

Trump Administration Releases National AI Policy Framework Aiming to Standardize Regulation and Limit State Legislation

On Friday, the Trump administration released a legislative framework for artificial intelligence (AI), aiming to establish a unified national policy system with consistent safety and regulatory standards for this emerging technology, while limiting states’ rights to legislate AI independently. The outline, based on six pillars, proposes a series of regulations for AI products and infrastructure, including new child safety rules, approval processes for AI data centers, and standardized management of energy use.

xAI Sends Engineers to Client Offices to Poach Orders from ChatGPT

Elon Musk’s AI company xAI is deploying engineers directly to potential clients’ offices in an effort to poach business from competitors OpenAI and Anthropic. This “hands-on” approach has helped xAI secure an order from payment service provider Shift4 Payments Inc.

Amazon Allegedly Developing a Secret Smartphone to Rewrite App Store Rules with AI

Recent reports indicate that Amazon plans to launch a new smartphone for the first time in over a decade, though the project is still in early stages. Four sources familiar with the matter say Amazon’s Devices and Services division is developing a project called “Transformer.” They suggest this phone could serve as a personalized mobile device, syncing with Alexa and providing around-the-clock services to Amazon users.

Oil Crisis Spurs Multiple Countries into “Energy Saving Mode”: Four-Day Workweeks and Oil Rationing Implemented

As the US-Israel-Iran conflict evolves into the “largest oil supply shock in history,” many countries worldwide are adopting energy-saving measures, with policies shifting from soft advocacy to mandatory restrictions. Preliminary data shows that South Asia and Southeast Asia, heavily dependent on Middle Eastern supplies, are under the greatest pressure.

Federal Reserve’s Waller: Caution Is Warranted, Rate Cuts Possible Later This Year

Federal Reserve Governor Christopher Waller said on Friday that given the current economic uncertainties, caution is necessary, but there is still a possibility of rate cuts later this year. Waller, who has previously supported rate cuts, noted that recent labor market changes and uncertainties from the US-Israel-Iran conflict require a more conservative policy stance.

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