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February 22nd - According to data from online platforms, the total box office revenue (including pre-sales) for films released during the 2026 Spring Festival has exceeded 5 billion yuan! Among them, *Pegasus 3*, *Silent Assassination*, *The Legend of the Swordsman*, and *Boonie Bears: The Big Adventure* ranked in the top four. The number of moviegoers during the 2026 Spring Festival has already surpassed 100 million, marking the eighth consecutive year that the Spring Festival has seen over 100 million moviegoers! Furthermore, according to data from online platforms, the total box office revenue for films released in 2026 (including pre-sales) has already exceeded 7.5 billion yuan, surpassing North American box office results and currently ranking first in the global single-market box office.Italian Foreign Minister: I had a lengthy dialogue with EU Trade and Economic Security Commissioner Šefčovič to coordinate joint action between Italy and EU member states. Solidarity among Europeans is crucial. Tomorrow I will attend the G7 international trade meeting, followed by a tariff working group briefing Italian businesses on the situation.On February 22, Russian Presidential Press Secretary Dmitry Peskov stated that if nuclear weapons aimed at Russia were to appear in Estonia, Russia could also target Estonia with its own nuclear weapons. This comes after Estonian Foreign Minister Chahekna stated that Estonia would be willing to deploy nuclear weapons on its territory if requested by NATO.On February 22, US Presidential Envoy Witkov, speaking about Iran, stated, "Trump is curious why Iran hasnt yielded yet? Considering our naval power there, under this pressure, why havent they come to us and said we dont want weapons?" Witkov also stated that Trump has instructed him and Kushner that Iran must cease its uranium enrichment activities and send out nuclear materials, arguing that Tehrans nuclear materials exceed civilian needs. Furthermore, Witkov indicated that he met with Iranian Prince Reza Pahlavi, at Trumps direction.Ukraines power grid operator said that Russia attacked Ukraines energy infrastructure again last night, causing power outages.

S&P 500 Drops More Than 2% As Traders Rush To Take Profits After Recent Rally

Cory Russell

Aug 23, 2022 14:37

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The Jackson Hole Symposium is being prepared for by traders.


As traders grabbed gains ahead of the Jackson Hole Symposium, which begins on August 25, the S&P 500 came under heavy pressure at the beginning of the week and dropped below the 4150 mark.


Concerns about the impending recession, a strong currency, and increasing rates have all helped to fuel the sell-off. However, it seems that after the robust comeback from June lows, traders were looking for a reason to cut their long holdings.


Bulls are concerned that Fed Chair Jerome Powell, who is set to speak on Friday, would say anything excessively hawkish even if the FedWatch Tool shows that there is a 56.5% likelihood of a 75 bps rate rise.


A 100 bps rate increase now seems very improbable, but traders often experience anxiety when they wish to take some winnings off the table.


Stocks of semiconductor companies fall as yields increase.


Stocks of semiconductor companies took a beating, and Intel dropped to multi-year lows. Today, rivals like AMD and NVIDIA have also seen a 3–4% reduction.


Although the price of certain companies in this market category, such as NVIDIA, has been heavily discounted, semiconductor stocks have been under pressure for months. They could be more susceptible to increasing rates at high valuation levels.


Ford pressured Dow Jones as it said it will eliminate 3,000 employees. Ford said that it intended to concentrate on software and electric cars.


The market is concerned that employment losses indicate that the demand for autos is not as robust as first anticipated. Manufacturers of electric vehicles like Tesla and Rivian have also declined today.


As AMCstock fell on concerns about Cineworld's insolvency, it was a hot day for fans of meme stocks. Concerns regarding Bed Bath & Beyond's financial stability caused the firm to lose more than 15% of its value. Meme stock prices may have difficulties as a result of the current market mood; they may come under more pressure in the future trading sessions.


In general, today's energy was the only place to hide. Due to the robust performance of the oil and natural gas markets, energy equities have gained support. Chesapeake and Range Resources' stock prices moved nearer to their annual highs.

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