The three major U.S. stock indexes closed lower collectively, the Philadelphia Semiconductor Index plummeted over 6%, Micron Technology and SanDisk fell more than 10%, while the China Concept Stock Index surged 2.93%.

Glonghui, July 2nd｜All three major US stock indexes closed lower: the Dow Jones fell 0.02%, the Nasdaq dropped 0.66%, and the S&P 500 index declined 0.21%. Major tech stocks were mixed: Meta surged over 8%, Microsoft climbed more than 3%, Google, Apple, Tesla, and Amazon each gained over 1%, Nvidia lost more than 1%, and SpaceX tumbled over 7%. Storage, semiconductor, and computer hardware stocks posted heavy losses—Philadelphia Semiconductor Index plunged over 6%, storage sector declined more than 9%, Micron Technology and SanDisk each shed more than 10%, Intel lost over 9%, ASML and AMD both fell more than 7%, Western Digital dropped over 6%, Super Micro Computer and Seagate Technology declined over 5%. The NASDAQ Golden Dragon China Index closed up 2.93%; among major Chinese concept stocks, 21Vianet ended up 9.7%, Pinduoduo gained 8%, GDS rose 5.5%, New Oriental was up 4.8%, Baidu climbed 3.3%, Trip.com increased 3%, and Tencent rose 2%.