U.S. stocks decline across the board, gold and silver plummet! "China Gold Dragon" defies the trend and strengthens

On February 5th, local time, the three major U.S. stock indices all closed lower, with the Dow down 1.2%, the S&P 500 down 1.23%, and the Nasdaq down 1.59%. Among them, Amazon’s stock price once fell over 10% after hours due to capital expenditure expectations significantly exceeding market forecasts. In Chinese concept stocks, the Nasdaq Golden Dragon China Index rose 0.9%, while the Chinese tech leader index declined 0.45%.

The precious metals market also declined simultaneously, with London gold spot prices dropping over 4% intraday, and London silver spot prices plunging over 20%.

Amazon drops over 10% after hours

On February 5th, local time, all three major U.S. stock indices closed lower, with technology stocks leading the decline and dragging down market sentiment. Data shows that by the close, the Dow fell 1.2%, the S&P 500 declined 1.23%, and the Nasdaq dropped 1.59%.

In the market, most large tech stocks declined, with the US Tech Seven Giants Index down 1.76%. Microsoft and Amazon fell over 4%, Tesla dropped over 2%, Nvidia declined over 1%, Google and Apple fell 0.6% and 0.21% respectively, and Meta saw a slight increase.

On the news front, Amazon’s earnings report became a market focus. The company’s Q4 sales revenue was $213.39 billion, slightly above the market estimate of $211.49 billion, but earnings per share were $1.95, slightly below the estimated $1.96.

Notably, Amazon expects capital expenditures of about $200 billion in 2026, significantly higher than the market forecast of $146.11 billion, an increase of 37%. Due to the high capital expenditure expectations, Amazon’s stock price once fell over 10% after hours.

In Chinese concept stocks, the Nasdaq China Golden Dragon Index rose 0.9%, while the Chinese tech leader index declined 0.45%. Nio rose over 6%, Atour and Huazhu Group gained over 5%, Meituan-ADR, Xiaomi Group-ADR, and BYD (002594) shares-ADR rose over 2%, Baidu Group increased 0.73%; Tencent Holdings fell over 1%, Dingdong Maicai surged nearly 10% before the market open but closed down 14.53%.

On February 5th, Meituan announced that it would acquire 100% equity of Dingdong Maicai’s China business for approximately $717 million. The announcement indicated that Dingdong Maicai’s overseas operations are not included in this transaction and will be divested before closing. During the transition period, Dingdong Maicai will continue to operate under the pre-transaction model.

Precious metals prices decline

Precious metals prices continued to fall. Data shows that as of 5:40 AM Beijing time on February 6th, London gold spot prices plummeted over 4% to $4,760.25 per ounce; COMEX gold futures fell over 2% to $4,825.5 per ounce. London silver spot prices dropped 19% to $71.841 per ounce, closing down over 20%; COMEX silver futures declined over 14% to $72.565 per ounce.

Canada announces new electric vehicle strategy

In cooperation with China

According to Xinhua News Agency, Canadian Prime Minister Justin Trudeau announced a new electric vehicle strategy on the 5th, including restarting purchase subsidies and stating that Canada will cooperate with China to promote local production and export of electric vehicles.

According to a statement from the Canadian Prime Minister’s Office, Canada will fully utilize existing and new trade agreements, including the recent electric vehicle cooperation agreement with China, to promote large-scale investments in this field, diversify Canada’s auto export markets, and position Canada as one of the global leaders in the electric vehicle industry.