Overnight US stocks | Trump's "Freedom Plan" changes three times a day, three major indexes fall, Arm (ARM.US) falls more than 10%.

On Thursday, the three major indexes closed lower. The market continued to focus on the latest developments in the US-Iran relationship. Due to reports that the US may restart the "Freedom Plan" to escort commercial ships through the Strait of Hormuz, international oil prices rebounded on Thursday. According to reports, after Saudi Arabia and Kuwait lifted restrictions on the use of their military bases and airspace by the US, the Trump administration is considering resuming escort operations. Just this past Tuesday, Trump announced the suspension of the "Freedom Plan" that had only been launched for two days, stating that he would observe whether an agreement with Iran could be finally reached. The Pentagon had previously stated that the operation was a defensive, targeted, temporary mission aimed at protecting commercial shipping from Iranian attacks. [US Stocks] By the close, the Dow Jones fell 313.62 points, or 0.63%, to 49596.97 points; the S&P 500 fell 28.01 points, or 0.38%, to 7337.11 points; the Nasdaq Composite fell 32.75 points, or 0.13%, to 25806.20 points. Arm (ARM.US) fell more than 10%, Tesla, Inc. (TSLA.US) rose 3%, Intel Corporation (INTC.US) and Micron Technology, Inc. (MU.US) both fell 3%. The Nasdaq Golden Dragon Index closed down 1.4%. [European Stocks] The Germany DAX30 index fell 285.75 points, or 1.15%, to 24663.50 points; the UK FTSE 100 index fell 167.29 points, or 1.60%, to 10271.37 points; the French CAC40 index fell 97.34 points, or 1.17%, to 8202.08 points; the European Stoxx 50 index fell 61.68 points, or 1.02%, to 5965.45 points; the Spanish IBEX35 index fell 57.50 points, or 0.32%, to 18046.80 points; the Italian FTSE MIB index fell 458.25 points, or 0.92%, to 49238.50 points. [US Dollar Index] The US dollar index, which measures the US dollar against six major currencies, rose 0.05% to close at 98.063 in the forex market. By the end of the New York forex market, 1 euro exchanged for 1.1751 US dollars, higher than the previous trading day's 1.1748 US dollars; 1 pound exchanged for 1.3583 US dollars, lower than the previous trading day's 1.3593 US dollars. 1 dollar exchanged for 156.67 Japanese yen, higher than the previous trading day's 156.45 Japanese yen; 1 dollar exchanged for 0.7788 Swiss francs, lower than the previous trading day's 0.7790 Swiss francs; 1 dollar exchanged for 1.3635 Canadian dollars, lower than the previous trading day's 1.3636 Canadian dollars; 1 dollar exchanged for 9.2432 Swedish kronas, higher than the previous trading day's 9.2339 Swedish kronas. [Cryptocurrency] Bitcoin fell below the $80,000 mark, trading at $79,759; Ethereum fell by over 2.5%, trading at $2,288.18. [Crude Oil] The price of light crude oil futures for June delivery on the New York Mercantile Exchange fell by 27 cents to close at $94.81 per barrel, a decrease of 0.28%; the price of Brent crude oil futures for July delivery on the London Mercantile Exchange fell by $1.21 to close at $100.06 per barrel, a decrease of 1.19%. [Precious Metals] Spot gold closed at $4688.48 per ounce; spot silver closed at $78.389 per ounce. According to reports, data released by the People's Bank of China on May 7 showed that at the end of April, gold reserves were reported at 74.64 million ounces, up from 74.38 million ounces at the end of March, an increase of 260,000 ounces month-on-month. This marks the 18th consecutive month of gold accumulation by the People's Bank of China. [Macro News] US military: Attacked while crossing the strait, retaliated against Iran; no intention to escalate the situation. The US Central Command stated that on May 7, as the US Navy destroyer sailed through the Strait of Hormuz towards the Gulf of Oman, US forces intercepted an unprovoked attack from Iran and retaliated in self-defense. When the destroyers "Truxtun," "Rafael Peralta," and "Mason" passed through this international waterway, Iranian forces launched multiple missiles, drones, and sent out multiple small boats. The attack did not cause any damage to US assets. The US Central Command eliminated the threat and targeted Iranian military facilities responsible for the attack, including missile and drone launch sites, command and control centers, as well as intelligence, surveillance, and reconnaissance nodes. The Central Command has no intention of escalating the situation but has made deployments and remains prepared to protect US forces. US court rules Trump's 10% tariff unfounded. The US Court of International Trade ruled on Thursday that the latest 10% tariff imposed by US President Trump is unfounded and lacks a legal basis for such tariff escalation. The Supreme Court of the United States ruled on February 20 this year that the massive tariffs imposed by the Trump administration under the International Emergency Economic Powers Act lack clear legal authorization. After the ruling was announced, Trump on the same day turned to Section 122 of the Trade Act of 1974, announcing a "Global Import Tariff" of 10% on goods from all countries and regions for a period of 150 days. Fed's Daly: Actions more important than words in statement, shouldn't overreact to energy shocks. San Francisco Fed President Daly played down the differences in the Fed's statement, implying that she would not vote against the action like some of her colleagues. She stated that the wording of the statement is less important than the action, and the true signal of the meeting is the unanimous agreement on the resolution. Three officials expressed dissent last month on the suggestion of future rate cuts, believing that the signal of "rates may rise or fall" due to energy shocks and uncertainty about a war with Iran is more appropriate. Daly, who does not have voting rights this year, emphasized the public's understanding of the Fed's responsibility for price stability. She stated that there are no signs yet indicating that energy prices are pushing up medium or long-term inflation expectations. "It is too early to judge now. If the conflict ends and oil prices fall without being transmitted to the broader economy, I expect the underlying dynamics before the conflict to return." She is committed to achieving the 2% inflation target but believes that one should not overreact to the expected duration of energy shocks. She stated that the policy is "slightly tight," and if the war is resolved, it will exert downward pressure on inflation; the labor market is stable and has not generated inflationary pressures. Media: Saudi Arabia, Kuwait restore US military base and airspace rights, "Freedom Plan" about to resume. According to reports, American and Saudi officials revealed that Saudi Arabia and Kuwait have lifted restrictions on the use of their bases and airspace by the US military, clearing a key obstacle for Trump's "Freedom Plan" to guide ships through the Strait of Hormuz. US officials stated that the Trump administration is currently seeking to restart the "Freedom Plan" operation, which was suspended after 36 hours of implementation. It is unclear when the operation will resume, but Pentagon officials have given the earliest timetable as within this week. The US's open action in the strait relies on a large group protecting commercial ships from Iranian attacks, making the use of Saudi and Kuwaiti bases and airspace crucial. However, the task has also sparked the most serious military feud between the US and Saudi Arabia in recent years, threatening the long-term security agreements between the two countries. Saudi officials stated that the restrictions were imposed after US officials downplayed Iranian attacks and Gulf countries feared inadequate US protection. Trump suspended the "Freedom Plan" after a phone call with the Saudi Crown Prince on Tuesday, expressing concerns and informing of the decision to lift the restrictions. Following another call between the two leaders, US military usage rights were restored. [Stock News] Apple Inc. Camera-equipped AirPods enters advanced testing phase. Sources revealed that Apple Inc.'s Camera-equipped AirPods development has entered its final stages, marking a significant milestone in the development of its first wearable device designed for the era of artificial intelligence. According to sources, the prototype product is close to its final design and functionality, relying on a camera to sense the environment and provide information, now in the advanced testing phase. Apple Inc. hopes to enter the AI hardware field with the success of AirPods. The camera serves as "eyes" for Siri, not used for taking photos or videos, but can capture visual information at low resolutions. The design resembles that of the AirPods Pro 3, with only a slightly longer earpiece to accommodate the camera. Apple Inc. had planned to launch the product in the first half of this year but delayed it due to the postponement of the new Siri version. The new Siri version is expected to be released in September.