All three major U.S. stock indices closed down more than 1%, Apple ended above $300 to hit a record high, while the China Concept Index fell by 2.8%.

格隆汇 May 16｜All three major US stock indexes closed down more than 1%. The Nasdaq fell 1.54%, with a cumulative weekly drop of 0.08%, ending its six-week winning streak; the S&P 500 fell 1.24%, but saw a cumulative weekly rise of 0.13%, achieving a seven-week winning streak; the Dow Jones fell 1.07%, with a cumulative weekly drop of 0.17%. Apple rose 0.68%, closing above $300 per share, hitting a record high, with total market capitalization reported at $4.41 trillion. Microsoft rose over 3%, marking its best single-day performance in a month. NVIDIA fell over 4%, with its biggest drop since April 30. Tesla fell over 4%, marking its largest single-day drop since April. Ford Motor fell more than 7%, marking its largest single-day drop since February 2025. Precious metals stocks collectively weakened: Hecla Mining and Coeur Mining fell over 9%, Kinross Gold fell over 8%, Pan American Silver fell over 7%, and Newmont Mining fell over 6%. The Nasdaq Golden Dragon China Index closed down 2.8%; among popular Chinese concept stocks, Kingsoft Cloud preliminarily closed down 9.4%, Alibaba fell 6.2%, Bilibili, Pony.ai, WeRide, and Baidu all fell at least 5.6%.