The three major U.S. stock indices all closed down more than 1%. IBM's largest decline in 25 years

NightAirdropper · 2026-02-24T11:14:52+00:00

Against the backdrop of increasing concerns over tariffs in the United States, the three major U.S. stock indices all fell more than 1%, with large tech stocks generally declining and IBM experiencing a significant drop. European stock markets declined across the board, while precious metals continued to rebound. Crude oil prices slightly weakened.

NightAirdropper

2026-02-24 11:14:52

Abstract generation in progress

Last night and this morning, against the backdrop of renewed concerns over U.S. tariffs, the three major U.S. stock indices all closed down more than 1%, with gold and silver performing strongly. At the close, the S&P 500 index fell 1.04% to 6,837.75 points; the Nasdaq Composite dropped 1.13% to 22,627.27 points; and the Dow Jones Industrial Average declined 1.66% to 48,804.06 points.

Most large tech stocks declined, with Microsoft down over 3%, Tesla, META, and Amazon down over 2%, Google down over 1%, while Nvidia and Apple saw slight gains.

Bank stocks all fell, with JPMorgan Chase, Citigroup, and Morgan Stanley dropping over 4%, Goldman Sachs, Bank of America, and Wells Fargo falling over 3%.

IBM’s stock price closed down over 13%, marking its largest single-day decline since 2000.

Chinese concept stocks also weakened along with the broader market, with the Nasdaq Golden Dragon China Index down 0.95%. At the close, Alibaba fell 1.08%, Pinduoduo rose 0.78%, NetEase fell 1.76%, JD.com declined 0.66%, Baidu dropped 1.42%, Ctrip fell 3.01%, Li Auto rose 0.82%, Futu Holdings dropped 5.55%, Bilibili declined 1.55%, and NIO increased 4.73%.

European major stock indices also closed lower across the board, with Germany’s DAX down 1.06% to 24,991.97 points, France’s CAC 40 down 0.22% to 8,497.17 points, and the UK’s FTSE 100 down 0.02% to 10,684.74 points.

Precious metals continued to rebound. By late trading in New York, COMEX gold futures rose 3.31% to $5,248.90 per ounce; COMEX silver futures increased 7.26% to $89 per ounce.

Crude oil prices edged lower, with WTI April crude futures down $0.27, a 0.38% decrease, to $66.31 per barrel.

Sources: China News Service, Caixin

Compiled by Upstream News, Editor: Chen Yanqi

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