Financial news
Written by: Zhang Weilun
2020-03-16 07:23
Last updated: 2020-03-16 07:55The new crown pneumonia epidemic continued, and Saudi Arabia launched an oil price war. Global stock markets experienced a "black week" last week. Fortunately, on Friday the 13th, the United States issued a national emergency order to fight the epidemic, driving the Dow to soar 1985 points by 9.36%, the largest point increase in history. However, the epidemic is still expanding globally, and the Fed has cut interest rates by another 1%, and the market panic has rekindled. "Hong Kong 01" today (16th) will keep abreast of market trends and track stocks, exchanges, and gold transactions.
[07:51] Australian shares once fell 7%
The Australian stock market opened more than 7% after the opening, and then the downtrend was calm. The Australian common stock index was now reported at 5226 points, down 263 points or 4.79%.
[07:12] Dow futures limit
The Fed cut interest rates for the second time in two weeks, triggering panic among investors, and the three major US stock index futures fell again, hitting the limit mechanism again.
The latest Dow futures were reported at 21798 points, down 1041 points, the S & P futures were last reported at 2555 points, down 128 points, and the Nasdaq futures were down 359 points at 7541 points.
In the commodity market, oil prices plummeted. Brent and New York oil futures both fell more than 4%, while gold prices rose. New York gold futures rose 24.9 US dollars or 1.6%, with the latest quote at 1541.6 US dollars.
Fed breaks interest rate by 1%
The Federal Reserve announced an interest rate cut of 1% to 0 to 0.25%, the second interest rate cut in two weeks, and the Bureau also announced the cancellation of its interest rate meeting on Tuesday. The Fed also stated that it would resume quantitative easing and buy a total of US $ 700 billion in assets from the market, including US $ 500 billion in national debt.
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