Dow Jones drops over 780 points! Gold and silver fall together, oil prices surge

On March 5th, local time, major stock indices in Europe and the United States all declined, with France’s CAC40, the UK’s FTSE 100, Germany’s DAX, and the Dow Jones Industrial Average all falling over 1%.

Large-cap U.S. tech stocks had mixed performances, with Microsoft rising over 1% and Amazon nearly 1% higher. Most chip stocks declined, with Applied Materials and CSMC Semiconductor dropping over 3%.

In commodities, precious metals generally fell, with London spot silver dropping over 1%; international crude oil prices surged.

U.S. Major Stock Indices All Declined

On March 5th, European stock indices closed lower across the board. Data shows that by the close, France’s CAC40 fell 1.49%, the UK’s FTSE 100 dropped 1.45%, and Germany’s DAX declined 1.61%.

The three major U.S. stock indices also all declined. By the close, the Dow Jones Industrial Average fell 1.61%, down over 780 points; the Nasdaq Composite dropped 0.26%; and the S&P 500 declined 0.56%.

Large-cap U.S. tech stocks had mixed results, with the Big Seven Tech Index down 0.06%. Among individual stocks, Microsoft rose over 1%, Amazon nearly 1% higher; META fell over 1%.

Most chip stocks declined, with the Philadelphia Semiconductor Index down 1.17%. Notable individual stocks include Broadcom, which rose over 4%, while Applied Materials and CSMC Semiconductor fell over 3%.

The Nasdaq China Golden Dragon Index dropped 1.43%. Among individual stocks, Autohome rose nearly 5%, Atour Hotels gained over 2%; Bilibili fell over 7%, Hesai Technology declined over 6%.

Oil Prices Surge Significantly

In precious metals, as of 5:50 AM Beijing time on March 6th, London spot gold was at $5,077.74 per ounce, down 0.84%; COMEX gold futures at $5,091.6 per ounce, down 0.84%. London spot silver fell 1.56%; COMEX silver futures declined nearly 1%.

International crude oil futures continued their upward trend. As of 5:50 AM Beijing time on March 6th, U.S. WTI crude oil futures main contract rose 6% to $79.14 per barrel; Brent crude futures main contract increased over 3%.

Bahrain Oil Refinery Hit by Iranian Missile

According to Xinhua News Agency on March 5th, Bahrain’s official sources reported that a facility at Bahrain National Oil Company’s main refinery was struck by an Iranian missile, causing a fire.

The fire has now been fully controlled, with no reports of casualties. The refinery’s production operations are ongoing. An assessment of the damage is underway.

Public information indicates that Bahrain National Oil Company owns and operates only one large refinery in Bahrain, with a daily crude oil processing capacity of 267,000 barrels.