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Good morning, this is Yosuke. It's Thursday morning, August 3rd. I'd like to start with a brief, urgent report, but I'll go into more detail later in the SOXL report. First, the urgent report: The Nasdaq 100 has fallen sharply, down 2.21%, a gap-up drop, breaking below its recent low. The composite index is also down 2.17%, from 13973100 to 15370.
The S&P 500 is down 1.38%, the Dow is down 0.98%, down 30,528 dollars. The Russell 2000 is down 1.37%, down 1966 points, and the SOX is down 3.8%. These are indices, so it's safe to say they've fallen sharply, and it's formed a large bearish candlestick. It's approaching its recent low, but it's a large decline.
The 50s also fell sharply for the second consecutive day, down 1.85%, with the 4326s dropping to 3711 points. The Nikkei average was down 2.81% in the night session, at 32,280 yen, so it's a second round in the night session. Well, the global stock market decline has been triggered by the downgrade of international credit ratings.
The VIX index also surged to 15.68, and the 10-year bond yield rose to 4.088%, at one point reaching 4.126%. 4.126% is such a high US long-term interest rate that you have to go back to November to see it. Of course, the downgrade of government bonds is having an impact. It's not quite as high as the 10-year bond, at 4.887, because it's more closely correlated with policy interest rates.
And the dollar-yen is at 140, so it's definitely heading in the direction of a stronger dollar. The euro-dollar is at 1.09, at 36, so this dollar strength is also, in a sense... Surprisingly, the value of the dollar has n't fallen that much, and there are still views that the downgrade of government bonds won't have that much of an impact, but as a result, the stock market has fallen significantly, while the foreign exchange market hasn't fallen as much.
So, in a sense, the dollar is strong, surprisingly strong, and the euro has fallen, dropping to 1.09 at 37, which is exactly the cluster point of the 50-day and 100-day moving averages. However, this is a significant drop from the recent sharp rise of 20%, dropping to 1934. It's a risk-on trend, and it has n't reached the risk-off level yet.
The risk level has also fallen a little, so it's not too bad, it's not a 79, so I think there's also economic uncertainty. It's down 10 dollars, which is normal since it had risen this much, so it's natural that there's a sharp drop. Bitcoin is also a bit weak, falling quite a bit compared to recent times, at 29,149 yen, which was probably below 20,000 at one point.
Sosei is at 29,000, and it has fallen to 28,903. Yes, and soxl has plummeted, or rather, it has taken 3 times, so it's down 11.39%, which is the second round. The 1x is down 3.83%, and SxL has fallen to 25.28, while S has surged, and even so it's still in the bottom range, but 9.17T and Shelbo are at 7.48, everyone has fallen, yes, there was also the aspect that individual circumstances did n't really matter, webble was down 8.89%, and from 12.19, it was against the light, or rather, it was pushed down, but it still rose a little by 0.1%, so it's at 100 points, 49 dollars, yes, I'm saving up for TV and I'm a little slandered, and it's stopped at 123, which corresponds to Fibonacci, and it's at 5.56, so Seal has fallen sharply, and there are probably fundamental reasons for this, but yes Well, with economic measures of that magnitude, it's only natural that expectations would dwindle, that's the situation, right?
Yes, the shape is 9.12%, which means that even though it's only leveraged twice, it's fallen this much. That was yesterday's market, and basically, it had been falling all along, but the ADP was strong, which increased concerns about the employment statistics. The employment statistics weren't good either, so there was some expectation that interest rate hikes would increase, but that alone wasn't enough, as the impact of the sovereign debt downgrade was weighing on the overall market.
And the ADP figure was 324,000, which was significantly higher than the forecast of 189,000, so it was seen as the labor market being strong, slightly further south than last time, but still strong. That may have caused some concern, but more than that, there's the issue of sovereign debt. Yes, Qualcomm Assis, first of all, the CV Scaremark before the opening was 3 points, 33%+, which was better than expected for sales pistons.
PayPal's sales were down 7.91% after the market closed, even with inputs. The numbers themselves aren't bad for the earnings report, but I guess it's the outlook for the future. Yes, Qualcomm was down 4.31%, which was noteworthy. This is of course unrelated to the downgrade of government bonds, but sales fell below expectations, so that may have been a factor in the decline.
Well, it's been three consecutive quarters, excuse me, it's been three consecutive quarters, but yes, that's also a factor. Yesterday, technology stocks were the biggest losers, all sectors were down, only the consumer goods sector was at break-even, but it's still very bad. As I mentioned, high-tech semiconductors were down across the board, as you can see in the upper left of the heatmap, basically the upper left is bright red, and half of them are down quite a bit.
NVIDIA, for example, was down almost 5%. The biggest reason for the decline is that the ratings in the US were down. So they downgraded it from triple to double plus, right? Is that lower than Luxembourg? Is that how it is with American international ratings? Anyway, in the end, the dollar is being bought, the dollar is being bought, so it's not like there's a huge panic, right?
If it were really bad, the dollar would be sold, it would crash, right? So in a sense, it's being used as an excuse to take profits as stocks have risen. In other words, institutional investors need a reason to sell, but when it rises this much, everyone knows it's going to fall, so they want to sell first, and when they look for a reason, this sovereign debt downgrade comes along, which is interesting, or rather, useful.
Also, of course, the fact that LPs were strong had an impact, but as for the decline in semiconductors, AMD released its earnings in the after-hours period the day before, and the reaction was like a big shock, it was good. Despite the good reaction, it plummeted after the opening, a 7.02% engulfing pattern, which was painful, especially since expectations were high.
Well, a lot of AI-related stocks were sold off, and I think AMD also had an aspect of being affected by the downgrade of its government bonds and its earnings report. Humano's costs are n't that high, and they don't perform as many surgeries as you'd expect, so the costs are low, and their earnings were good, with a 5.6% increase.
The downgrade of government bonds did cause some shock, but as we saw in the press release yesterday, what happened after the 2011 downgrade? Considering that, it's not surprising at all. It is surprising, but there's no need to be overly pessimistic. There's a strong view that this is profit-taking, which means it will eventually subside.
The Ministry of Finance is also going to issue a large amount of government bonds, so there's a possibility that stocks will plummet, or rather, gradually decline, so we need to keep that in mind. I've told you that many times, and there's a possibility of a crash. It's always going to happen, so we just have to face it head-on.
The ADP's employment figures showed an increase of 324,000, which was higher than expected, and I admit that this is one of the reasons for the downgrade. But no, it's not like the employment statistics will necessarily turn out this way, and even if they did, Tokyo also has strong numbers, and even if the growth continues, it's still a good thing that the number of workers is increasing, the number of people working is increasing, just look at China, the attitude of the young people there is incredible, so it's much better than a downgrade like this, you could say that strong fundamentals are one of the most important things for a country, and employment is rising, and if wages are rising too much, that would be a problem, but wage growth is slowing down, and the CPI is also slowing down, so in a sense we are on track for the best scenario, so the strength of the fundamentals is not necessarily linked to this sovereign debt downgrade, as the sovereign debt downgrade was based on circumstances from quite a while ago.
Investors must understand that the current economy is strong. That's all for now. I've shared information about the sharp decline and sharp drop due to the US Treasury rating downgrade. SOXL is down 11.39%, and even after the downgrade it's down about 8.8%, which is a big drop of over 12%. Well, that's just how it is, so we must accept that these things happen and face the market head-on.
But the market is a wicked woman, so of course these things happen. Of course, sometimes it's sad, but that's just how it is, so money will get better again. That's why we must face it in the long term. There are crashes, and there have been. But the ability to recover from those crashes will always be repeated, but the US stock market has grown 700,000 times in 220 years.
We must never forget that fact. Shikishima, we're running out of time, so I'll wrap it up here for today. I'll delve deeper into this in the SX Breaking News. For now, I'll say goodbye for now. I think so. Thank you very much. Goodbye.
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