[Continuous Update] The Dow closed down, the three major indexes in 2013 all inserted more than 7%

Financial news

Written by: Zhai Ziqian, He Jingzhang, Zhang Weilun, Huang Jie

2020-03-10 00:41

Affected by the crude oil price war, the global stock market "crashed" on Monday, Hong Kong stocks took the lead in staged "thousands of falling days", and European stock markets intervened by nearly 10%. The US stock market opened, and the three major indexes triggered the fusing mechanism. The Dow fell more than 2,000 points throughout the day, and the three major indexes all fell more than 7%. "Hong Kong 01" tracks investment market conditions throughout.

[04:10] The Dow closed down more than 2,000 points and the three major US indexes rebounded once again. The Dow closed at 23,851 points, down 2013 points (7.79%). The S & P 500 index fell 7.6% and the Nasdaq fell 7.3%.

[03:05] Low water at 254 at night

The Hang Seng Index Futures Night Market closed at 24,786 points, down 64 points (0.26%), which was 254 points lower than yesterday's close of the 25040 points.

[02:40] Dow performance has repeatedly dropped more than 2000 points

The performance of US stocks has been repeated. The Dow recently reported 23786 points, down 2088 points (8%). The Chicago Options Exchange Volatility Index (VIX), which is known as the "panic index," was last reported at 53.71, slightly down from today's high (62.12), but still at a historical high.

[01:24] Wal-Mart up 2% as the best performing Dow component stocks

The Dow has fallen more than 2,046 points, and the latest is still inserted at 1770 points. Almost all of the Dow's constituent stocks became popular, while retail giant Walmart benefited from the U.S. people snapping up necessities for life and rose 2% against the market. It was the best performing Dow constituent.

Wal-Mart shares rose 2% against the market. (Reuters)

[01:00] HSBC London shares fell nearly 5%

HSBC London's stock price fell 4.82% to 470 pence, equivalent to HK $ 47.98, which was a continued drop of 1.58% from the Hong Kong stock's closing price of HK $ 48.75 on Monday.

[00:47] Standard Chartered oil price in the second quarter is 23 dollars

Big Banks bearish on oil price trends, Standard Chartered analyst Emily Ashford lowered Brent oil price forecast for the second quarter from US $ 38 to US $ 23, but emphasized that US $ 23 is an average forecast, not a final or possible low price.

The bank expects that the average price of oil this year will be $ 35, down $ 29 from the original forecast; next year it is expected to be $ 44, down $ 23.

[00:41] Europe's three major indexes fell about 7%

European stock markets are down, Germany ’s DAX index last reported at 10736 points, down 805 points or 7%, France ’s CAC index was last reported at 4760 points, down 378 points or 7.4%, and the British FTSE index was last reported at 6025 points, down 437 points or 6.8%. .

The Dow recently reported 24,325 points, down 1,538 points or 6%, the Standard & Poor's index was last reported at 2,823 points, down 149 points or 5%, and the Nasdaq index was last reported at 8,153 points, down 422 points or 4.9%.

[00:35] Hong Kong stocks rise and fall at night

Hong Kong stocks fell after rising at night, and the latest night fell 16 points to 24,834 points, 206 points below water.

[00:22] Interest rate futures are expected to reduce interest rate by 1%, chance rate is 44.7%

For the latest interest rate futures, the market expects that the Fed's chance of reducing interest rates by 1% after the interest rate discussion on the 18th of this month will fall from more than 70% the previous day to 44.7%; the chance of reducing interest rates by 0.75% will increase to 55.3%.

[00:20] Goldman Sachs expected to set a new low in history

Investment bank Goldman Sachs chief economist Jan Hatzius said that the Fed is expected to cut interest rates by another 0.5% at its next meeting (March 18) and another 0.5% at the April meeting, bringing the federal funds rate range to zero. To 0.25%, the lowest in history.

The latest interest rate futures market shows that investors expect the Fed ’s chance of reducing interest rates by 1% after discussing interest rates on the 18th of this month, from more than 70% the previous day, to 44.7 %%; the chance of reducing interest rates by 0.75% increases To 55.3%.

[00:20] US dollar index once fell below 95

The euro was last quoted at 1.1433, up 1.32%, the pound was up 0.37% against the U.S. dollar, up to 1.3096, the Australian dollar was last reported at 0.6651, up 0.23%, and the U.S. dollar was down 0.88% against the Swiss franc, up to 0.93. The dollar was up 0.85% against the Canadian dollar and was last quoted at 1.3532. The dollar was up 1.02% against the South Korean won at 1,204.51.

[00:13] Oil prices continue to fall, oil sales fall more than 18%

Oil prices continued to fall. New York oil futures last reported at US $ 34, down US $ 7.28 or 17.6%, while Brent oil futures last reported at US $ 36.95, down US $ 8.32 or 18.38%.

The price of gold fell. New York gold futures reported an average of US $ 1,6675 an ounce, down US $ 4.9 or 0.29%. Spot gold was an average of US $ 1,662.56 an ounce, down US $ 11.27 or 0.67%.

[00:09] Japanese yen rises to see 101.19

The safe-haven yen was also sought after, up 4% at the highest, as high as 101.19 to US $ 1; the yen against the Hong Kong dollar once reached as high as 7.6766 per 100 yen, with the latest reported at 7.5805.

[00:05] European stocks inserted 8.2%

European stocks also fell sharply. The Dow Jones STOXX600 index fell 8.2% to 336.54 points and entered a bear market. The Dow Jones STOXX600 index last reported at 344.66, down 6%.

[00:05] New York Reserve Bank to increase overnight and regular repurchase operations

The Federal Reserve Bank of New York issued a statement planning to increase the size of its overnight and regular repo operations this week. The Federal Reserve Bank of New York plans to increase the scale of daily repurchase operations from US $ 100 billion to US $ 150 billion, and on March 10 and 12 a 14-day repurchase operation will increase from at least US $ 20 billion to 45 billion US dollars.

The Federal Reserve Bank of New York pointed out that increasing the size of the repurchase is to ensure that the market has sufficient reserves, reduce the pressure on the money market, and avoid adversely affecting the policies implemented earlier. Market imbalances or loans will increase the chance of the world falling into recession or force the Fed to take action.

[23:48] Three major US stock indexes fell more than 4%

The three major U.S. stock indexes still plunged. The Dow recently reported 24,566 points, down 1298 points or 5%. The S & P index was last reported at 2807 points, down 164 points or 5.5%. The Nasdaq index was last reported at 8181 points, down 394 points. Or 4.6%.

[23:28] Trump explains the reason

US President Trump tweeted on Twitter explaining the market. He pointed out that the dispute between Saudi Arabia and Russia over the issue of oil prices and oil production was fake news, and pointed out that this was the trigger for the current market crash. He also pointed out that as gasoline prices fell, it was good for consumers.

Saudi Arabia and Russia are arguing over the price and flow of oil. That, and the Fake News, is the reason for the market drop!

Good for the consumer, gasoline prices coming down!

[23:24] Hong Kong stocks rise at night

Hong Kong stocks rose 16 points at night, temporarily at 24866 points, but still 174 points below water. The Hong Kong dollar conversion price of HSBC in the UK was 48.1 yuan.

[23:16] The Dow drops more than 6%

The decline of the three major US stock indexes has narrowed slightly. The Dow recently reported 24242 points, down 1622 points or 6.27%; the benchmark index was at 2784 points, down 188 points or 6.34%; the Nasdaq was at 8095 points, down 5.59% or 479 points.

[21:30] Three major indexes trigger the fusing mechanism

The Dow Jones index opened at 24,992 points, down 872 points, and the latest 1800 points; the Nasdaq index opened at 8,790 points, down 617 points; the S & P 500 index opened at 3,075 points, down 108 points, and fell 7%; Three major indices trigger the fusing mechanism.

Tesla (TSLA) saw a pre-market low of 600.2 yuan, a drop of 17.2%. The "panic index" is known as the VIX index was as high as 53.15, rising nearly 50%, reflecting the market's high panic.

When U.S. stocks fall by 7%, it will trigger the first-level fuse mechanism of U.S. stocks, and the market will suspend trading for 15 minutes. If the decline subsequently increases to 13%, it will trigger the second-level fuse mechanism, and trading will be suspended for another 15 minutes. Eventually it will reach 20%, and trading on that day will stop.

The fusing mechanism was triggered in 1997. At that time, the triggering of the US fusing mechanism was based on the number of points in the market instead of the percentage, which led to the firing of the fuse on October 27, 1997. Today, the S & P 500 has replaced the Dow as the benchmark index to trigger a circuit breaker.

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