Overnight Headlines on March 28: U.S. stocks decline for the fifth consecutive week, Dow and Nasdaq enter correction territory; Iran steel plant and nuclear facilities attacked; oil prices return to the $100 mark

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Market

March 28 Closing: U.S. stocks decline for the fifth consecutive week, Dow drops 790 points into correction territory

March 28 Top 20 U.S. Stock Trading Volume: Meta faces legal setbacks, down 11% this week

March 28 Popular Chinese concept stocks fall; TSMC rises 0.21%, Pony.ai drops 5.97%

U.S. crude oil prices rise 5.5%, touching $100 again during trading

European stock markets heading for their worst monthly performance since the COVID-19 pandemic, impacted by the Middle East war

Macro

Trump and Modi discuss the Middle East situation in a recent call, with Musk participating

Trump claims the “shutdown” of the Department of Homeland Security constitutes an emergency

Trump: Iran allowing tankers to pass through the Strait of Hormuz is to “make up for previous false statements”

The U.S. states it has not shifted weapons originally intended for Ukraine to the Middle East, but does not rule out such a possibility

The U.S. reportedly hints to allies that there are currently no plans for a ground attack on Iran

Rubio states the Iran war will last “weeks rather than months,” as Iran’s nuclear facilities are attacked and refuse to respond to negotiations

A U.S. presidential envoy expects talks with Iran this week

House Republicans abandon TSA funding agreement, creating a new round of standoff with the Senate

The U.S. Department of Homeland Security: TSA security personnel will receive pay as early as Monday

Iran claims the Bushehr nuclear power plant was attacked for the third time, with no casualties or damage to facilities

Iran’s Speaker: The U.S. spreads a lot of false information to suppress oil prices

Iran states it will facilitate humanitarian supplies through the Strait of Hormuz

Iran’s Foreign Minister: Israel will “pay a heavy price” for attacking Iranian infrastructure

Iranian Armed Forces spokesperson: Iran is formulating conditions to end the war

Iran warns it will retaliate against steel plants in Gulf countries and Israel

Iran launches the 84th round of “Real Commitment-4” operations

Israeli military claims it attacked Iran’s Arak heavy water reactor

Israel claims it struck Iran’s uranium mining facility in Yazd

Yemen’s Houthi forces: If the situation in Iran continues to escalate, actions will be taken

Company

U.S. stocks are sold off, hitting AI leaders hard; the “Seven Giants” of U.S. stocks lose over $850 billion in market value

British oil producers call for a revival of the North Sea oil and gas industry

Oaktree Capital meets all $7.7 billion fund redemption requests, allowing 8.5% of funds to exit

WTI approaches $100 as U.S. drillers reduce rig counts

Meta faces legal setbacks, plunging 12% in two days; aggressive AI capital expenditures and legal risks weigh on its stock price

Citigroup plans to build a vault at Heathrow Airport to enter the trillion-dollar London gold market

McDonald’s “Golden Arches” marketing campaign goes viral, valued at $18 million, but foot traffic only increases by 2.2%

Sony raises PS5 prices by up to $150, citing “global economic pressures”

Anthropic is testing a powerful new model, while cybersecurity stocks decline

Commentary

U.S. Consumer Confidence Index drops sharply, inflation expectations rise

As war continues, emerging market assets are likely to fall for the fourth consecutive week

Roubini believes the probability of the U.S. escalating the war with Iran is over 50%, predicts the Fed will have no choice but to raise rates

ECB’s Schnabel states that war impacts should not be rushed into, to avoid overreacting

Richmond Fed President Barkin states economic “fog” makes policy-making difficult

Richmond Federal Reserve Bank President: The Iran conflict exacerbates economic uncertainty

Philadelphia Fed President Harker outlines policy pathways to respond to AI-driven growth

Guggenheim Chief Investment Officer: Sustained high oil prices could lead to a 10% decline in U.S. stock markets

U.S. bond market: Treasury yields mixed, yield curve steepens

U.S.-Israel war escalates; Gulf countries face tough choices

Guggenheim warns: Oil prices maintaining at $100 per barrel will trigger a 10% sell-off in U.S. stocks

Copper prices record their first weekly gain since the outbreak of the Iran war

Yen against the dollar falls below 160 for the first time in 2024; Tokyo’s intervention risks rise

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Editor: Ding Wenwu