Before the US stock market opened on July 1st, the futures of the three major US stock indexes fell in unison.

Popular US-listed stocks generally fell before the day. Last night, the favorites probably followed the US stocks lower, but performed better than the market.NASDAQ China Golden Dragon Index (.HXC.US) $It rose nearly 16% in June, the best performance in three years, and more than 12% in the second quarter, the best single-quarter performance since the end of 2020.

$Taiwan Semiconductor Manufacturing Co Ltd (TSM.US) $Down nearly 4% before trading, it was reported that Apple Inc, AMD and NVIDIA Corp, the three major customers of Taiwan Semiconductor Manufacturing Co Ltd, reduced their orders. In this regard, the relevant departments of Taiwan Semiconductor Manufacturing Co Ltd replied that they would not comment on market speculation or rumors.

$Micron Technology Inc (MU.US) $The pre-market drop of more than 3% Q3 revenue of US $8.64 billion fell short of market expectations, and the company expects the adverse factors related to consumer demand and inventory to adversely affect the industry.

Thursday,As US PCE data showed a significant slowdown in US household spending growth, once again evoking the market's painful association of "recession is coming", the three major US stock indexes closed down collectively.Thursday was the last trading day of the first half of the year, with the s & p 500 down 21% in the first half, the worst first-half performance since 1970, the Nasdaq down about 30% and the Dow down about 15%.

Of all the sectors in the s & p 500, with the exception of energy stocks, which have risen 29% over the past six months, other sectors have fallen to varying degrees. Non-essential consumer goods stocks fell the most, falling by 33%. Utilities, seen as a hedge against inflation, fell the least, down 2 per cent this year.

Analysts pointed out that the conflict between Russia and Ukraine, the slowdown in US economic growth, the bleak outlook for corporate profits and the Fed's sharp increase in interest rates to curb inflation have continued to dampen market sentiment over the past few months. As the panic continues to spread, the future is still not optimistic.

CICC believes that in the short term, the market's response to recession fears does not rule out excessive reaction. However, it is also an indisputable fact that the growth of the United States is gradually slowing down at present. Pressure on growth from tighter financial conditions in the US is likely to emerge at the end of this year and early next year, and there is a good chance that there will not be a deep recession.

Niu friends, is the market over-hyping the "recession"?

Us stocks begin their journey in the second half of the year tonight. what will happen on the first trading day?

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