Dow Jones drops over 500 points late at night, NIO rises nearly 9%, Bitcoin falls below $68,000

K-LinePoet · 2026-02-25T02:10:48+00:00

U.S. stocks generally declined at the market open on February 5th, with the three major indices all down more than 1%, and the Dow Jones Industrial Average falling over 500 points. Qualcomm dropped more than 8% due to revenue forecasts below market expectations. Google and Amazon stocks experienced significant volatility, while consumer stocks such as Estée Lauder and Canada Goose plummeted due to poor earnings. The performance of Chinese concept stocks was mixed, with NIO's first-quarter profit boosting its stock price. In the commodities market, gold and crude oil prices fell sharply, and foreign institutional investors expressed concerns about short-term volatility in gold.

K-LinePoet

2026-02-25 02:10:48

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On the evening of February 5th Beijing time, U.S. stocks opened lower. As of around 23:14, all three major indices were down more than 1%, with the Dow Jones Industrial Average dropping over 500 points.

Chip giant Qualcomm is currently down more than 8%. According to Cailian Press, due to a global storage supply shortage, Qualcomm expects its second-quarter revenue to be between $10.2 billion and $11 billion, below market expectations.

Aside from Qualcomm, U.S. chip stocks rebounded after opening lower. SanDisk and Broadcom rose about 5%, Intel increased over 3%, and TSMC, ASML, AMD, Applied Materials, and NVIDIA all rose over 1%.

Google initially fell more than 6%, but the decline has since narrowed. Google’s parent company Alphabet once dropped 7.5%, marking the largest intraday decline since May 7. Amazon initially fell over 3%, and the company will release its earnings after the market closes today.

U.S. stocks related to cryptocurrencies declined: Strategy fell over 7%, Coinbase dropped over 4%, and Circle declined over 2%. The cryptocurrency market continued to plunge, with Bitcoin falling below $68,000. As of the time of writing, nearly 215,000 traders worldwide have been liquidated in the past 24 hours.

Some U.S. consumer stocks fell sharply due to disappointing earnings, with Estée Lauder dropping 19% and Canadian Goose, a down jacket giant, falling over 15%.

Chinese concept stocks had mixed performances. NIO initially rose nearly 9% after announcing its first quarterly profit, and pre-market trading saw a 10% surge. On the downside, Dingdong Maicai fell over 11%, and Ares Solar dropped more than 3%.

In commodities, spot silver’s decline widened to 16%, and spot gold fell over 2%. Crude oil prices plunged, with WTI and Brent futures dropping by 3%.

Some foreign institutions have warned to be cautious of a short-term “speculative wave” in gold assets. Lorraine Guo, Senior Investment Manager at Pictet Asset Management, told the 21st Century Business Herald that the long-term safe-haven properties of gold and central bank holdings remain unchanged. However, in the short term, the influx of retail investors has altered its investment characteristics, and some traditional gold shops have faced risks due to participation in speculative trading, leading to short-term volatility patterns that are very different from the past. Therefore, while institutions recognize its long-term value, they prefer to wait until speculative factors subside and prices return to fundamentals before considering investments.

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