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In the dead of night, the flash crash

AInvestTuesday, Oct 15, 2024 12:20 pm ET
1min read

【Lead】ASML's earnings are disappointing

Brothers and sisters, tonight's overseas market is not peaceful!

Night's US stock market, the Dow Jones index fell slightly, and the Nasdaq index performed a "dive" performance.

Why did the Nasdaq index plummet? The reason lies in ASML, the leader of lithography machine, whose stock price suddenly plunged.

On the information front, ASML's third-quarter order volume only reached about half of analysts' expectations, and it also lowered its performance guidance in 2025.

According to the data released in advance on the Dutch company's website, the order amount in the third quarter was 2.6 billion euros (2.8 billion US dollars), while analysts generally expected 5.39 billion euros. ASML's spokesman has not made any immediate comments.

This result caused ASML's stock price to plunge 16% at the Amsterdam exchange, the largest decline since June 12, 1998, and was temporarily suspended due to the excessive decline.

Christophe Fouquet, CEO of ASML, said in a statement: "Now it seems that the recovery is slower than expected. It is expected to last until 2025, which makes customers more cautious. Although AI continues to develop strongly and has upside potential, other segments need more time to recover."

ASML's disappointing earnings also dragged down other chip stocks, with Nvidia, AMD and Broadcom's stock prices falling about 4%.

On the Chinese asset front, the FTSE China A50 index futures once short-lived nearly 1% in the night trading, on the information front, the State Council Information Office will hold a press conference at 10:00 am on October 17, 2024 (Thursday) to introduce the relevant situation of promoting the stable and healthy development of the real estate market and answer questions from journalists.

However, later, the FTSE China A50 index futures was dragged down by the US stock market, and the China concept stock index plunged 5%.

Wish the A-share market on Wednesday.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.