The three major U.S. stock indices all opened lower, with chip stocks generally falling.

Phoenix.com Finance News, March 12 — The three major U.S. stock indexes all opened lower collectively, with the Nasdaq down 0.89%, the Dow down 1.16%, and the S&P 500 Index down 0.83%. Chip stocks fell across the board, with Intel, Nvidia, AMD, and Sandisk down more than 1%.

Other News

【Japan’s “Alipay” Lands on the U.S. Stock Market Tonight】

PayPay, a fintech company headquartered in Tokyo, will list on the Nasdaq on Thursday. In a statement, the company announced that its IPO pricing is $16 per share, below the $17 to $20 offering price range. Even so, the $879.8 million raised in this IPO remains the largest fundraising by a Japanese company in the U.S. market since 2016.

【Honda Previews Its First Annual Loss Since It Was Listed in 1957】

As of the time of publication, Honda Motor’s U.S. shares are down more than 6% in pre-market trading. On Thursday, the company said that after it announced the cancellation of three electric vehicle models it had planned to produce in North America, for the fiscal year ending this month, it expects attributable net losses of 360 billion yen (about $2.267 billion) to 630 billion yen (about $3.968 billion), compared with its prior forecast of a net profit of 360 billion yen. This will be Honda’s first annual net loss since it was listed in the 1950s.

【U.S. Dating Platform Catches the AI Bandwagon】

Online dating platform Bumble surged 21% before the market opened on Thursday. Previously, the company reported Q4 results that beat expectations and announced it would upgrade its AI-driven products by rolling out “Bumble 2.0,” aiming to re-attract younger users and reverse the situation of slowed growth. The company plans to introduce features such as an AI dating assistant “Bee” and chapter-style profiles in the new version of its app, and in some markets, to weaken or even eliminate the traditional “swipe-to-match” mode to improve match quality and user engagement.

【Morgan Stanley Suspends Redemption of One of Its Private Credit Funds】

Before the market opened on Thursday, Morgan Stanley fell by more than 2%. Earlier, the firm had restricted redemptions from its North Haven private income fund. The affected fund returned a total of $169 million of capital in the current quarter, about 45.8% of investors’ redemption requests. Morgan Stanley said that setting a 5% redemption cap on outstanding shares was to avoid being forced to sell assets during market volatility.

As a result, bank stocks in Europe and the U.S. generally declined, with Goldman Sachs down more than 2% and Deutsche Bank down more than 4%.

【Netflix to Acquire an AI Movie Production Company】

Latest news reports say that Netflix’s acquisition of AI movie production company InterPositive has a valuation that could be as high as $600 million. The startup has developed a set of tools that allow filmmakers to modify footage after filming.