The three major U.S. stock indices all closed lower, with the Dow Jones down more than 1% and Nvidia falling over 4%

On Friday Eastern Time, the three major U.S. stock indices all closed lower. As of the latest report, the Dow fell 1.05% for the week, down 1.31% this week, and up 0.17% in February, marking ten consecutive months of gains; the Nasdaq dropped 0.92% for the week, down 0.95% this week, and down 3.38% in February; the S&P 500 declined 0.43% for the week, down 0.44% this week, and down 0.87% in February.

Most large tech stocks declined, with Nvidia down over 4%, Apple down more than 3%, Microsoft down over 2%, Tesla and Meta down over 1%; Netflix surged over 13%, its best single-day performance since October 2023; Google rose over 1%, and Amazon saw slight gains.

The KBW Bank Index fell nearly 5%, its largest single-day drop since April last year. Goldman Sachs dropped over 7%, Morgan Stanley fell more than 6%, Wells Fargo and Citigroup declined over 5%, and Bank of America dropped over 4%.

The Nasdaq China Golden Dragon Index declined 1.81%. iQiyi fell over 6%, Century Internet dropped over 5%, NIO declined over 4%, Vipshop and Lufax fell over 3%; Kingsoft Cloud rose over 6%, and NetEase Youdao increased over 2%.

Global News

State Council Tariff Tariff Committee: Adjustments to tariffs on certain imported goods originating from Canada

To implement important consensus reached by Chinese and Canadian leaders, and in accordance with the Customs Law of the People’s Republic of China, the Customs Law, Foreign Trade Law, and basic principles of international law, the Tariff Tariff Committee announced that from March 1, 2026, to December 31, 2026, it will adjust the tariffs on certain imported goods from Canada as specified in the previous announcement (Tariff Committee Announcement 2025 No. 3). No additional tariffs will be imposed on Canadian oilcake, peas (100%), or Canadian lobsters and crabs (25%).

U.S. January PPI up 2.9% YoY, vs. 2.6% forecast

U.S. January Producer Price Index (PPI) increased 2.9% year-over-year, versus an expected 2.6%, and the previous value was 3%. The month-over-month PPI rose 0.5%, compared to an expected 0.3%, with the previous figure at 0.5%.

OpenAI announces $110 billion new investment at a $730 billion valuation

OpenAI announced a new $110 billion investment at a $730 billion valuation, including $30 billion from SoftBank, $30 billion from Nvidia, and $50 billion from Amazon. OpenAI plans to expand its AWS partnership to $100 billion over 8 years. The company also signed a strategic cooperation agreement with Amazon and partnered with Nvidia for next-generation inference computing. As funding rounds progress, more financial investors are expected to join. This new valuation increases OpenAI Foundation’s stake in the OpenAI group to over $180 billion, further solidifying its position as one of the most resource-rich non-profit organizations in history.

“Rare Earth Shortage” Worsens! Some US aerospace and semiconductor suppliers are “unable to accept orders”

Industry insiders revealed that US aerospace and semiconductor suppliers are facing increasingly severe shortages of rare earth elements, with at least two suppliers refusing some customer orders. The shortages mainly involve yttrium and scandium, which are niche metals in the 17-element rare earth family but play critical roles in defense, aerospace, and semiconductors, almost entirely produced in China.

Elon Musk: Tesla will build a factory on the Moon within 20 years, advises investors to hold long-term

Following the announcement that xAI plans to build AI satellite factories on the Moon, Musk said Tesla will also establish a factory on the Moon within 20 years. On February 27, Tesla’s official account posted a video of CEO Elon Musk and Berlin Gigafactory head André Thierig discussing at the factory.

Iran military vows “destructive” response to US aggression

According to Iran’s Mehr News Agency on February 27, Brigadier General Shakeri, spokesperson for Iran’s Armed Forces General Staff, stated that any provocation by the U.S. will be met with a “decisive and destructive” response. He said Iran’s armed forces are closely monitoring U.S. and Israeli movements in the region and are well prepared. He described U.S. presence as “psychological warfare, extortion, and bullying,” emphasizing, “We are not warmongers nor afraid of war. We will resolutely defend our country and the interests of the Iranian people.” Reckless actions could trigger large-scale conflict and provoke an unprecedented strong response.

Global No. 4 automaker collapses, losing over €180 billion last year! CEO: Overestimating the pace of energy transition!

On February 26, the world’s fourth-largest automaker, Stellantis, released its 2025 full-year financial results. The report shows that in 2025, Stellantis achieved a net revenue of €153.508 billion, down 2% from €156.878 billion in 2024.

U.S. denies withdrawing non-essential diplomatic personnel from Iraq and Kuwait

On February 27, the U.S. State Department denied reports of withdrawing non-essential diplomatic personnel from Iraq and Kuwait. Earlier that day, media reported that the U.S. State Department approved the withdrawal. State Department Deputy Spokesperson Tom Piggott reposted the reports on social media and called the information “untrue.”

Nearly 20 years of negotiations, South Korea conditionally approves Google’s high-precision map service

After nearly 20 years of negotiations, Google has finally received conditional approval from the South Korean government to provide high-precision map services locally. The Korean government announced on Friday that it will allow Google to export digital map data at a scale of 1:5,000, paving the way for improved navigation and location-based services, while maintaining oversight of sensitive information.

Is AI a bubble? Max from Oak Tree Capital advises: Don’t go all-in on any side!

In December last year, Wall Street value investor and co-chairman of Oak Tree Capital Management, Howard Marks, published a memo titled “Is Artificial Intelligence (AI) a Bubble?” He pointed out that AI is regarded as “one of the most important technological breakthroughs in history,” but alongside its unprecedented hype, there is enormous uncertainty.

Settled! Netflix withdraws from bidding, Paramount’s $111 billion “acquisition” of Warner

As Netflix effectively exited the Warner acquisition bid, Paramount won the ongoing months-long takeover battle. On Thursday, February 26, Warner Bros. Discovery announced that Paramount’s latest offer of $31 per share (totaling about $111 billion) was a “superior proposal,” giving Netflix four business days to update its bid.

Nvidia + AMD chips still insufficient? Meta’s latest move: Renting Google TPU!

Despite growing Wall Street concerns over massive capital expenditures by AI giants, Meta continues expanding. On Thursday, Eastern Time, sources told media that Meta signed a multi-billion dollar agreement to rent AI chips from Google to develop new AI models.

Don’t be scared off by “AI ghost stories”! Morgan Stanley: “The game of courage” is about to begin, and some industries may dominate

After a series of product launches by Anthropic caused a sharp decline in software stocks, Citrini Research released a report titled “AI Ghost Stories” this week, shocking the industry and fueling fears among U.S. investors. However, Morgan Stanley strategists say that due to fears of AI disruption, many sectors have been oversold, creating opportunities for brave stock pickers.