Overnight US stocks | End of the first quarter! Nasdaq dropped more than 10% and spot gold rose 19%

On Monday, the last trading day of March and the first quarter, major stock indices recorded declines over these time periods. In March, the Dow Jones fell by 4.2%, the Nasdaq fell by 8.21%, and the S&P 500 index fell by 5.75%. In the first quarter, the Dow Jones fell by 1.28%, the Nasdaq fell by 10.42%, and the S&P 500 index fell by 4.59%. Due to repeated fluctuations in the "Trump trade" and changes in the situation of GEO Group Inc, various assets swung significantly in the first quarter of 2025. Spot gold rose by 19% or about $500 in the first quarter, reaching a high of $3,127 per ounce. COMEX gold futures also rose by 19.6%. Spot silver rose by nearly 18% to a high of $34.56 per ounce. WTI crude oil futures fell by 0.6%, with a range between $65.22 per barrel and $79.39 per barrel, while Brent crude oil fell by 0.3%, with a range between $68.21 per barrel and $81.73 per barrel. Bitcoin fell by 11.8%, dropping from its January high of nearly $110,000 per coin to around $82,000. The US Dollar Index (DXY) fell by nearly 4%, while the offshore Chinese yuan rose by nearly 1%, currently at 104.1 and 7.26 respectively. The Russian ruble significantly appreciated, with the USD/RUB falling by 21%. In other metals, copper rose by 10.3%, palladium nearly 10%, tin by nearly 26%, and platinum by more than 11%. [US Stocks] As of the close on Monday, the Dow rose by 417.86 points, or 1.00%, to 42,001.76 points; the Nasdaq fell by 23.70 points, or 0.14%, to 17,299.29 points; the S&P 500 index rose by 30.91 points, or 0.55%, to 5,611.85 points. [European Stocks] The German DAX30 index fell by 281.69 points, or 1.25%, to 22,174.21 points; the UK's FTSE 100 index fell by 71.29 points, or 0.82%, to 8,587.56 points; the French CAC40 index fell by 125.44 points, or 1.58%, to 7,790.64 points; the Euro Stoxx 50 index fell by 80.85 points, or 1.52%, to 5,250.55 points; the Spanish IBEX35 index fell by 163.49 points, or 1.23%, to 13,138.61 points; and the Italian FTSE MIB index fell by 669.30 points, or 1.73%, to 38,070.00 points. [Asia-Pacific Stock Markets] The Nikkei 225 index fell by 4.05%, the South Korean KOSPI index fell by 3%, and the Australian S&P/ASX200 index fell by 1.74%. [Forex] The US Dollar Index, which measures the dollar against six major currencies, rose by 0.17% on that day, closing at 104.223 in the market. At the close of the New York market, 1 euro exchanged for $1.0813, lower than the previous trading day's $1.0825; 1 pound exchanged for $1.2910, lower than the previous trading day's $1.2940. 1 dollar exchanged for 150.14 yen, higher than the previous trading day's 149.96 yen; 1 dollar exchanged for 0.8848 Swiss francs, higher than the previous trading day's 0.8819 Swiss francs; 1 dollar exchanged for 1.4373 Canadian dollars, higher than the previous trading day's 1.4316 Canadian dollars; 1 dollar exchanged for 10.0431 Swedish Krona, higher than the previous trading day's 9.9986 Swedish Krona. [Cryptocurrency] Bitcoin rose by 0.27% to $82,616.27, while Ethereum rose by 1.09% to $1,827.12. [Metals] Spot silver fell by 0.12% to $34.0859 per ounce, accumulating an increase of 9.42% in March and approximately 17.70% in the first quarter. COMEX silver futures fell by 0.20% to $34.765 per ounce, with an increase of 9.74% in March and approximately 17.60% in the first quarter. COMEX copper futures fell by 1.51% to $5.0525 per pound, with an increase of 10.79% in March and approximately 24.23% in the first quarter, reaching a high of $5.3740 on March 26. [Crude Oil] Light crude oil futures for May delivery on the New York Mercantile Exchange rose by $2.12 to close at $71.48 per barrel, an increase of 3.06%; Brent crude oil futures for May delivery rose by $1.11 to close at $74.74 per barrel, an increase of 1.51%. [Macro News] The Nasdaq 100 index recorded its worst quarterly performance in nearly three years due to concerns about an AI bubble. Concerns about an artificial intelligence bubble have hit the Nasdaq 100 index, which fell by 8.3% in the first quarter, its worst quarterly performance in nearly three years. Key drivers of the previous stock market rally, such as NVIDIA Corporation (NVDA.US), Broadcom Inc. (AVGO.US), Microsoft Corporation (MSFT.US), and Amazon.com, Inc. (AMZN.US), all fell by 20% or more from their respective highs. The Nasdaq 100 index peaked in February, rising more than double from its low point in December 2022. Although the average valuation of the index has dropped from 27 times last month to 24 times, it is still relatively high compared to the average level over the past 20 years (around 20 times). Kim Forrest, Chief Investment Officer at Bokeh Capital Partners, believes that the overall situation indicates that investors are nervous about slowing AI spending, with "too much capital chasing too few data center needs." Trump will announce reciprocal tariffs in the White House Rose Garden on April 2. White House Press Secretary Levitt said that US President Trump will announce his reciprocal tariff policy at an event in the White House Rose Garden on Wednesday. Levitt stated that Trump's statement would primarily focus on "national-based" tariffs, but he also "pledged" to implement industry tariffs at another time. Levitt said Trump'sCabinet members will attend the announcement ceremony. Levitt said, "The President will announce a tariff plan that will reverse decades of unfair trade practices that have been exploiting our country. Now is the time for reciprocity, the time for the President to make historic changes and do the right thing for the American people."The US auto manufacturing industry is seeking to exclude certain auto parts from tariffs, according to sources familiar with the matter. US automakers are lobbying the Trump administration to exclude certain auto parts from tariffs as part of a last-ditch effort before the tariffs take effect this week. Ford Motor Company (F.N), General Motors Company (GM.N), and Stellantis (STLA.N) are seeking to avoid paying tariffs on thousands of parts they globally source, which typically come from low-cost countries like Mexico. They have met with the White House, the Commerce Department, and the US Trade Representative to discuss the exemptions. Stock News Apple Inc. (AAPL.US) releases iOS 18.4 AI features expanded to more languages and regions, including Chinese. According to The Verge, Apple Inc. has released iOS 18.4, one of the biggest features being Priority Notifications, which uses Apple Intelligence to highlight "important notifications that might need your immediate attention." The update, which also includes the recently released iPadOS 18.4 and macOS Sequoia 15.4, expands the availability of Apple Intelligence to "many new languages, including French, German, Italian, Portuguese (Brazil), Spanish, Japanese, Korean, Simplified Chinese, as well as localized English in Singapore and India." EU users can also use Apple Intelligence on their iPhones and iPads. Tesla, Inc. (TSLA.US) Rome store set on fire, Musk calls it terrorism. On Monday, Tesla, Inc. CEO Elon Musk stated that a night-time fire at a Tesla, Inc. (TSLA.O) dealership in Rome was an act of terrorism. The incident resulted in the destruction of 17 vehicles. A security source indicated that the Italian special police force Digos is investigating the possibility of anarchists setting fire in the eastern suburbs of the capital. Tesla, Inc. cars have become targets of deliberate damage in several countries, following Musk's alignment with the Trump administration and support for far-right parties in Europe. Italian Deputy Prime Minister and leader of the right-wing League party Salvini also expressed support for Musk on social media. "There is too much unreasonable hatred towards Tesla, Inc.," he wrote. Amazon.com, Inc. (AMZN.US) introduces AI agent Nova Act that can operate web browsers. According to The Independent, Amazon.com, Inc. has introduced a new AI model that can help control users' web browsers and perform actions on behalf of users. This universal AI agent named Nova Act is one of the next generation of AI, giving AI chatbots such as Siasun Robot&Automation semi-autonomous capabilities to act as digital assistants. An Amazon.com, Inc. blog post stated, "We think of agents as systems that can complete tasks and actions on behalf of users in a variety of digital and physical environments." "These types of agents are still in their early stages. The Nova Act SDK toolkit is a key step forward, allowing developers to break down complex workflows into atomic commands to build reliable agents." Major Rating Jefferies Financial Group Inc.: Maintains Buy rating on CrowdStrike (CRWD.US), target price lowered from $425.00 to $410.00.