Morning News 💹 Highlights: Nasdaq fell over 400 points, Nvidia's market value evaporated by over 1 trillion yuan, crude oil surged by 3%, and over 150,000 people in cryptocurrency faced liquidation.

On Wednesday (December 17), the three major U.S. stock indexes all closed lower, with the Dow falling 0.47%, the S&P 500 index down 1.16%, and the Nasdaq down 1.81%.

Large technology stocks collectively fell, with popular stocks like Oracle dropping over 5%, Tesla falling over 4%, and Nvidia dropping nearly 4%. The market value evaporated by $164.8 billion (approximately 116.08 billion yuan) overnight.

Chip stocks generally fell, with the Philadelphia Semiconductor Index dropping 3.78%. ASML, ARM, and AMD fell more than 5%, Broadcom dropped over 4%, and TSMC and Intel fell more than 3%.

Most Chinese concept stocks fell, with the Nasdaq Golden Dragon China Index dropping 0.73%. In terms of individual stocks, Huya fell over 4%, Century Internet, Gaotu Group, NIO, Li Auto, and Wanqian Data fell over 3%. Dingdong Maicai rose over 22%, Wanwu Xingsheng rose over 2%, and Zai Ding Medicine rose over 1%.

Crude oil surged, with WTI crude oil rising over 3% at one point during the trading session. As of the close, both WTI and ICE Brent crude oil rose over 2.9%. In terms of news, according to CCTV news, on December 17 local time, after U.S. President Trump ordered a complete blockade of all sanctioned oil tankers entering and exiting Venezuela, market concerns about geopolitical risks intensified, driving oil prices higher. In addition, on the 17th local time, oil tankers docked at Venezuela's main oil storage facilities are rapidly being filled with crude oil, expected to reach maximum storage capacity in about 10 days.

In the precious metals sector, silver reached a new historical high during the session, with spot silver reported at $66 per ounce and spot gold at $4,338 per ounce as of the time of writing.

The cryptocurrency market has collectively declined, with Bitcoin dropping to $86,104 per coin as of the time of writing. According to Coinglass data, over 150,000 people in the market were liquidated in the past 24 hours.

According to the latest data from CME's 'FedWatch,' the probability of the Federal Reserve cutting interest rates by 25 basis points in January next year is 24.4%, while the probability of maintaining the current rate is 75.6%. The cumulative probability of a 25 basis point cut by March next year is 44.4%, the probability of maintaining the current rate is 46%, and the cumulative probability of a 50 basis point cut is 9.5%.#美联储降息
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