Global Markets: U.S. Stock Market's Three Major Indices Close Lower, Nasdaq Falls Over 2%, Supermicro Plunges Over 33%

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%.

Large tech stocks mostly fell, 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 chip stocks, AMD plunged over 33% after co-founder was arrested for smuggling AI servers. Storage concept stocks declined 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 decline, with Applied Optoelectronics down over 14%, Coherent down over 9%, and Lumentum down over 8%.

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

European Markets: The three major European stock indices all declined on March 20. The FTSE 100 in London 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 Considering Gradual De-escalation of Military Actions Against Iran

On March 20, President Trump tweeted, “We are very close to achieving our goal,” indicating that the U.S. is considering gradually de-escalating military actions against Iran.

Trump Reportedly Considering Occupying or Blockading Kharg Island to Force Iran to Reopen the Strait of Hormuz

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

Pentagon Re-deploys Troops to the Middle East; Market Risk Sentiment Continues to Rise

CCTV News reports that 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 Navy personnel to the Middle East. While no decision has been made to send ground troops into Iran, these deployments aim to enhance future operational capabilities in the region.

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

On March 20, U.S. defense officials reportedly have prepared detailed plans for deploying ground troops to Iran. Trump has been weighing whether to deploy ground forces in the region. It remains unclear under what circumstances he might authorize such action.

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

On the evening of March 20, Iranian Foreign Minister Amir Abdollahian stated that the UK has permitted 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 UK citizens 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 condemning Iran’s blockade of the Strait of Hormuz. The decision was made considering South Korea’s stance on maritime security and freedom of navigation, international developments, and the direct impact on Korea’s energy supply and economy.

Trump Administration Releases National AI Policy Framework 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. The outline, based on six pillars, proposes 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 Compete for ChatGPT Orders

Elon Musk’s AI company xAI is deploying engineers directly to potential clients’ offices to compete with OpenAI and Anthropic for commercial contracts. This “hands-on” approach has helped xAI secure an order from payment service provider Shift4 Payments Inc.

Amazon Rumored to Be Secretly Developing a Smartphone to Rewrite App Store Rules with AI

Latest reports suggest 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 say Amazon’s device and services division is developing a project called “Transformer.” The phone is viewed as a potential personalized mobile device that can sync with Alexa and provide 24/7 services to Amazon users.

Oil Crisis Drives Countries into “Energy-Saving Mode”: Four-Day Workweek and Oil Rationing in Effect

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

Fed’s Waller: Caution Is Warranted, but Rate Cuts Possible Later This Year

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

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