[Continuous update] The Dow closed down 516 points, Powell again sounded the alarm for the economic prospects

Financial News

Written by: Zhang Weilun

2020-05-13 22:03

The Asia-Pacific stock market performed hides on May 13, but the European stock market was under pressure in the early stages, including the British stock market which fell below 5,900 points. US stocks fell sharply due to multiple negative comments, all three major indexes fell, and the Dow once plunged nearly 700 points.

[04:14] The Dow once fell 605 points

The Dow's tail section had inserted nearly 700 points, and the decline narrowed later, closing at 23067 points, down 516 points or 2.1%; the Nasdaq fell 139 points or 1.55% to close at 8863 points. Dragged down by the decline in energy and financial stocks, the index fell 50 points or 1.75% to close at 2820 points.

The decline in US stocks was mainly due to investors' uncertain economic outlook. Fed Chairman Jerome Powell said earlier that he was worried about the impact of the new coronavirus pneumonia (COVID-19) epidemic, which continued to cause economic recession, and many well-known investors on Wall Street also sang light US stocks.

US President Donald Trump and later on Twitter said that "rich guys" sang the stock market because they wanted to create market fluctuations for private gain. He also criticized the wealthy for getting up and down and questioned whether it was legal for them to do so.

[02:00] The Dow once fell 605 points

The comments of Fed Chairman Powell and President Trump accused the "rich man" of declining the stock market, the Dow once fell 605 points, it is now reported at 23228 points, down 536 points or 2.26%; the Nasdaq fell 204 points or 2.27%, reported at 8797 points; Standard Index fell 60 points or 2.12%, reported at 2809 points.

[01:00] European stocks closed down

European stock markets fell across the board. The British FTSE index closed at 5904 points, down 90 points or 1.51%, the German DAX index closed at 10542 points, down 276 points or 2.56%, and the French CAC index closed at 4344 points, down 127 points or 2.85%.

[00:12] The Dow fell more than 500 points

US Federal Reserve Chairman Powell warned that the new coronary pneumonia epidemic is unprecedented in the scope and speed of the economic recession and is even worse than any recession since the Second World War. He bluntly stated that it will take time for the economic recovery momentum to recover. Over time, the liquidity problem may become a payment problem, and it seems that more measures are needed to pull the economy back from the downturn. Powell also pointed out that at present no negative interest rate has been considered.

Affected by the speech, the Dow fell 541 points or 2.28% to 23223 points; the Nasdaq fell 204 points or 2.27% to 8797 points; the benchmark index fell 61 points or 2.13% to 2808 points.

[22:02] U.S. stocks decline, the Dow fell more than 200 points

The decline in US stocks has intensified. The Dow recently reported 23547 points, down 217 points or 0.9%, the S & P index latest reported 2853 points, down 16 points or 0.6%, and the Nasdaq latest reported 9000 points, down 2 points or 0.02%.

[21:33] The Dow fell 100 points early

The three major U.S. indexes performed weakly in the early period. The Dow recently reported 23,664 points, down 100 points or 0.4%, the Standard Index last reported 2,862 points, down 7 points or 0.3%, and the Nasdaq latest reported 9016 points, up 13 points or 0.2%.

[19:07] European stock market declines intensified

European stock market declines widened. The British FTSE index last reported 5943 points, down 51 points or 0.9%, the German DAX index last reported 10661 points, down 158 points or 1.5%, and the French CAC index last reported 4399 points, down 72 points or 1.6%. The Spanish IBEX index last reported 6702 points, up 60 points or 0.9%, and the Italian MIB index last reported 17352 points, down 206 points or 1.2%.

[18:05] The three major US index futures increase

The growth of the three major US index futures expanded, the Dow futures rose 140 points or 0.6%, the latest reported 23741 points, the latest S & P futures reported 2867 points, rose 14 points or 0.5%, the Nasdaq futures rose 9138 points, rose 60 points or 0.7% .

[15:59] US three major index futures rose

The three major U.S. index futures rose, with the latest Dow Futures reporting at 23616 points, up 42 points or 0.2%, the S & P Futures reporting at 2854 points, up 2 points or 0.1%, and the Nasdaq Futures rising by 19 points or 0.2%, up to 9097 .

European stock markets fell in the early stages. The British FTSE index recently reported 5927 points, down 67 points or 1.1%, the German DAX index latest reported 10613 points, down 206 points or 1.9%, and the French CAC index latest reported 4386 points, down 85 points or 1.9. %, The Spanish IBEX index last reported 6690 points, down 72 points or 1.1%, the Italian MIB index last reported 17328 points, down 230 points or 1.3%.

European Stock Market