TechFlow News, May 22: U.S. equities opened higher, with the Dow Jones Industrial Average up 0.58%, the S&P 500 up 0.41%, and the Nasdaq Composite up 0.37%. Futu Holdings (FUTU) plunged 34.93%, while Up Fintech Holding (TIGR) tumbled 30.82%.
The Nasdaq Golden Dragon China Index fell 2.2%, with most major Chinese ADRs declining: NIO Inc. (NIO.N) dropped 7%, Baidu Inc. (BIDU.O) fell 3%, KE Holdings Inc. (BEKE.N) declined 4%, and Alibaba Group Holding Ltd. (BABA.N) slid 3%.
Semiconductor and memory stocks in the U.S. market posted mixed results:
NVIDIA Corp. (NVDA): down 0.10%;
Intel Corp. (INTC): up 2.04%;
Advanced Micro Devices Inc. (AMD): up 6.98%;
Broadcom Inc. (AVGO): up 1.05%;
Qualcomm Inc. (QCOM): up 1.43%;
Seagate Technology Holdings plc (STX): up 0.16%;
Western Digital Corp. (WDC): down 0.31%;
SanDisk Corp. (SNDK): down 1.87%.
Additionally, cryptocurrency-related stocks showed mixed performance:
MicroStrategy Inc. (MSTR): down 0.55%;
Coinbase Global Inc. (COIN): up 0.26%;
Circle Internet Financial Ltd. (CRCL): up 1.67%;
SharpLink Gaming Inc. (SBET): down 0.46%.
