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% this week, down 1.31% for February, with a 10-month winning streak; the Nasdaq dropped 0.92% this week, down 0.95% in February, and down 3.38% for the month; the S&P 500 declined 0.43% this week, down 0.44% in February, and down 0.87% for the month.

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 rose over 13%, marking its best single-day performance since October 2023; Google rose over 1%, and Amazon saw a slight increase.

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%, China Internet Plus fell over 5%, NIO dropped 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 from Canada

To implement important consensus reached by Chinese and Canadian leaders, and in accordance with the Customs Law, Tariff Law, Foreign Trade Law of the People’s Republic of China, and international legal principles, the State Council 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, lobster, or crab beyond the existing tariffs of 100% and 25%, respectively.

U.S. January PPI Up 2.9% Year-over-Year, vs. Estimated 2.6%

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

OpenAI Announces $110 Billion 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 U.S. Aerospace and Semiconductor Suppliers Unable to Accept Orders

Industry insiders revealed that U.S. aerospace and semiconductor suppliers are facing a severe shortage of rare earth elements, with at least two suppliers refusing some customer orders. The shortage mainly involves yttrium and scandium, which are niche metals within the 17 rare earth elements. These elements are critical in defense technology, aerospace, and semiconductors, and are almost entirely produced in China.

Elon Musk: Tesla Will Build a Factory on the Moon Within 20 Years, Advises Long-term Investment

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

Iran Military: Will Respond with “Destructive” Measures to U.S. Aggression

According to Iran’s Mehr News Agency on February 27, Brigadier General Shakeri, spokesperson for Iran’s Armed Forces General Staff, said any provocation by the U.S. will be met with a “decisive and destructive” response. Shakeri stated that Iran’s armed forces are closely monitoring U.S. and Israeli movements in the region and are well prepared. He said U.S. presence is part of “psychological warfare, extortion, and bullying.” He emphasized, “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 Fourth-Largest Automaker Collapses, Lost Over €180 Billion Last Year! CEO: Overestimating Energy Transition Speed!

On February 26, Stellantis, the world’s fourth-largest automaker, 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 Withdrawal of 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 Pigolet reposted the reports on social media and called the information “untrue.”

Nearly 20 Years of Negotiation: 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 regulatory oversight over sensitive information.

Is AI a Bubble? Max from Oak Tree Capital Advises: Don’t Go All-In on Any Side!

In December last year, Howard Marks, co-chairman of Oak Tree Capital Management and a Wall Street value investing master, 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 the unprecedented hype comes with 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 to expand. On Thursday, 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 by “AI Horror Stories”! Morgan Stanley: “The Game of Courage” Is Coming, Some Industries Will Lead

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