In the early morning, gold and silver prices skyrocketed!

Hello everyone, today is Saturday. Let’s focus on the latest closing performance of the overseas markets and the overall trend in February.

On February 27th, Eastern Time, the U.S. stock markets closed lower across the board. Most large tech stocks declined, and banks and Chinese concept stocks fell broadly.

At the close, the Dow Jones Industrial Average dropped 1.05%, the S&P 500 fell 0.43%, and the Nasdaq Composite declined 0.92%.

Looking at February’s performance, the Nasdaq fell 3.38%, the Dow rose 0.17%, and the S&P 500 declined 0.87%.

In terms of sectors, large tech stocks fell sharply yesterday, with the US Tech Seven Giants Index dropping 1.72%.

Individual stocks saw Nvidia down over 4%, Apple down 3.28%, Microsoft down 2.25%, Tesla and Facebook down over 1%, while Google and Amazon closed higher.

In the chip sector, most stocks declined. The Philadelphia Semiconductor Index fell 1.21%. Besides Nvidia’s drop of over 4%, Qualcomm, Advanced Micro Devices, ARM, and Marvell Technology also declined. Bank stocks fell sharply, with Morgan Stanley down over 6%, Goldman Sachs down more than 7%, and Citibank, Bank of America, and Wells Fargo all closing significantly lower.

Most Chinese concept stocks declined, with the Nasdaq Golden Dragon China Index dropping 1.81%. Among popular Chinese stocks, Alibaba fell 2.69%, JD.com, KE Holdings, and Li Auto all declined over 1%.

UBS Global Equity Strategist Andrew Garthwaite downgraded the US stock market investment rating, citing increased risks from a weakening dollar, high valuations, and rising policy uncertainties in Washington. He adjusted the US stock allocation in global portfolios from “overweight” to “neutral,” believing the factors that supported years of outperformance are weakening.

OpenAI completes $110 billion funding at a $730 billion valuation

Amazon invests $50 billion

OpenAI announced it has completed a record $110 billion funding round at a $730 billion valuation.

Amazon stated it has invested $50 billion in this funding round. OpenAI announced that SoftBank Group and Nvidia each invested $30 billion.

After this round of funding, the valuation of OpenAI’s holdings in the OpenAI group increased to over $180 billion.

OpenAI plans to expand its AWS partnership to $100 billion over the next eight years.

Earlier this month, OpenAI’s competitor Anthropic completed a $30 billion funding round, with investors including Nvidia and Microsoft. This funding valued Anthropic at $380 billion.

Spot gold and silver prices surge sharply

Affected by tariffs and geopolitical risks, gold and silver prices suddenly soared.

On February 27th, spot gold reached a high of $5,281.327 per ounce, a new high since January 30th. By the close, spot gold rose 1.88%, ending at $5,278.328 per ounce.

ANZ Bank analyst Sony Kumari said there are two main factors supporting gold: one is the current market uncertainty regarding tariffs, and the other is the situation between Iran and the US.

Senior market analyst Lin Tran from XS.com stated that recent negotiations have not yielded clear results, keeping geopolitical risks present but not escalating. Therefore, gold prices remain high but lack enough momentum to sustain an upward trend.

Spot silver briefly broke through $94 per ounce, surging 6.21 intraday.