Tesla’s market value evaporated over 960 billion yuan overnight.

On December 18th, the three major indexes of US stocks all fell sharply, and large-scale technology stocks fell across the board, among which Tesla fell more than 8%, and its market value evaporated by 131.5 billion US dollars (about 962.5 billion yuan) overnight.

In addition to Tesla, other large-scale technology stocks such as Intel, Amazon, Google, Microsoft, etc. also fell in succession, all of which fell by more than 2%: Intel fell by more than 5%, Amazon fell by more than 4%, Google, Meta, Microsoft and Netflix fell by more than 3%, Apple fell by more than 2%, and NVIDIA fell by more than 1%.

On December 18th, local time, the Federal Reserve announced that it would cut the target range of the federal funds interest rate by 25 basis points to between 4.25% and 4.50%, which was in line with the general market expectation. This is the third time that the Fed cut interest rates after cutting interest rates by 50 basis points in September and 25 basis points in November.

Federal Reserve Chairman Powell decided to hold a press conference on the same day to cut interest rates, releasing many policy signals. He said that the Fed should be "more cautious" when considering adjusting the policy interest rate in the future. Powell said that the decision to cut interest rates in December was more challenging, but it was the "right decision". He said that whether the Fed will cut interest rates in 2025 will be based on future data, not the current forecast results, and the Fed will consider further interest rate cuts after inflation improves.

Powell also said that the Fed is at or near the time of slowing down interest rate cuts. The three major indexes of US stocks fell sharply on the same day, and the Nasdaq fell by 3.56%, the biggest one-day drop since July 25th. The S&P 500 index fell 2.95%, the biggest one-day drop since August 6; The Dow fell 2.58%, falling for the tenth consecutive day, the longest losing streak since October 1974.

(Yangcheng Evening News Yangcheng School Comprehensive CCTV News, The Paper, etc.)