Oriental Fortune Network reported on the 23rd that on Tuesday Eastern Time, the panic index surged 15% and risk assets were sold off. U.S. stocks closed lower across the board, with the Nasdaq falling more than 2% and once falling below the 7,000-point mark during the session. The Dow also closed down more than 300 points. On the market, technology stocks were among the top losers.
The closing price of U.S. stocks is as follows:
| index | latest price | rise or fall (%) |
| Dow Jones Industrial Average | 24404.48 | -1.22% |
| S&P 500 index | 2632.90 | -1.42% |
| NASDAQ Composite Index | 7020. 36 | -1.91% |
On the news, The International Monetary Fund (IMF) on Monday lowered its global growth forecast and warned that the economic growth momentum observed in recent years is slowing, raising concerns about the global economic outlook. As a result, Asian stock markets sluggishly rose on Tuesday. Meanwhile, in Davos, Switzerland, a prominent British investor warned of the market impact of events including uncertainty over Brexit.
In addition, the United States is grappling with its own political problems. The U.S. government is still mired in the longest government shutdown in history, which has now entered its 31st day, leaving approximately 800,000 federal workers without pay. Democrats have rejected Trump 's latest proposal to temporarily extend protections for young immigrants entering the country illegally in exchange for $5.7 billion in funding for a border wall. In terms of
technology stocks, the five major FAANG technology stocks fell collectively, with Netflix falling 4.11%, Amazon falling 3.77%, Alphabet falling 2.53%, Apple falling more than 2%, and Facebook falling 1.65%. Micron Technology and Nvidia both fell by more than 5%, and AMD and Western Digital both fell by more than 4%. Among other technology stocks, Twitter fell more than 3%, Microsoft fell nearly 2%, and Tesla fell more than 1%.
In the past three months, many countries, including the United Kingdom, France, and Germany, have announced to strengthen control over multinational technology companies by imposing "digital taxes" on them. Analysts say that American technology giants such as Google and Facebook may become targets of taxation.
According to the 21st Century Business Herald, on January 21, local time, France issued a fine of 50 million euros (approximately US$56.8 million) to Google for violating the General Data Protection Regulation (GDPR), making the latter a It is the first U.S. technology giant to be punished since the regulation came into effect in May 2018. This is also the highest fine issued by a regulatory agency under the GDPR.
On the other hand, according to media reports on January 22, a special group of Japan’s Ministry of Communications listed issues related to applying Japan’s domestic privacy protection rules to multinational technology companies in a draft released on January 21. According to the draft, multinational technology companies such as Google, Apple, Facebook and Amazon must set up agents in Japan and are prohibited from viewing or leaking communications such as emails without users’ consent.
Most of the Chinese concept stocks ended lower, Weibo fell more than 13%, and Nomura Securities lowered its rating from buy to neutral. Sina fell 9.43%; Jingdong , Happy Times, Baidu all fell more than 6%. Previously, Jefferies and Citi lowered Baidu's target price. Bilibili, Ctrip , iQiyi, and Momo all fell by more than 4%; NetEase fell by 3%.
It is worth noting that New Oriental Education Group bucked the trend and rose by more than 7%. The company announced that the second fiscal quarter ending on November 30, 2018 (that is, the second quarter of New Oriental's fiscal year 2019) has not Audited financial results.
New Oriental's revenue in the second quarter of 2019 was US$597.1 million, a year-on-year increase of 27.8%, and the market expected US$577.6 million. Adjusted earnings per ADS were 14 cents, compared with market expectations of 2.0 cents. Non-GAAP net income attributable to New Oriental was US$23 million, excluding share-based compensation expenses and losses on changes in fair value of long-term investments, a year-on-year increase of 69.2% from US$13.6 million in the same period of the previous fiscal year. Net revenue in the third quarter is expected to be US$769.9 million to US$793.2 million.
Economic data
According to data from the National Association of Realtors (NAR), the total number of existing home sales in the United States in December was 4.99 million, a new low since 2015. It was expected to be 5.24 million, and the previous value of 5.32 million was revised to 5.33 million. . The total number of existing home sales in the United States in December was -6.4% on an annualized basis, which was expected to be -1.5%. The previous value of 1.9% was revised to 2.1%.
latest company financial report
Johnson & Johnson announced that the company's net profit in the fourth quarter of 2018 was US$3.04 billion, and earnings per share were US$1.12, compared with a net loss of US$10.7 billion in the same period last year, and a loss per share of US$10.7 billion. $3.99. Excluding certain one-time items, Johnson & Johnson's fourth-quarter adjusted earnings per share were $1.97, beating analysts' average estimate of $1.95. Johnson & Johnson's fourth-quarter net sales increased 1% year-on-year to $20.4 billion, also exceeding analysts' average forecast of $20.2 billion.
Due to a net outflow of US$8 billion in its key wealth management business in the last quarter of 2018, UBS had a pre-tax profit of US$696 million in the fourth quarter, and its earnings were lower than expected.
US stock company news
Tesla has been approved to start selling its Model 3 in Europe. According to Tesla, deliveries of the long-range battery version of its Model 3 will begin in February after the Dutch vehicle authority RDW issued a "pass."
France fined Google US$57 million under the new EU privacy law, citing opacity, lack of sufficient information and valid consent for personalized and targeted advertising.
Starbucks announced that it will expand delivery to six additional US cities. In the fall of 2018, Starbucks began testing out-of-home service in Miami, which has 200 stores.
China concept stock news
Pinduoduo issued a statement saying that the Shanghai police had filed a case and set up a task force on charges of "online fraud". Previously, Pinduoduo said that a black and gray product gang stole tens of millions of platform coupons through an expired coupon loophole and made illegal profits. In addition, the 180-day lock-up period for Pinduoduo’s shares will end on January 22, 2019. After the ban is lifted, shareholders and insiders before Pinduoduo’s IPO will be able to sell their shares in the secondary market for the first time to cash out.
Soufun.com announced that company president Liu Jian has been appointed as chief executive officer (CEO), and Mo Tianquan will resign as CEO and only serve as chairman. At the same time, SouFun also announced that the company is currently considering spinning off its wholly-owned subsidiary China Index Holdings.
Alibaba Cloud recently announced that the number of connections of its Life Internet of Things Platform (Feiyan Platform) has exceeded 100 million. The smart devices connected to the platform cover more than 200 countries, more than 100 categories, and more than 2,000 brands around the world. Huang Lei, general manager of Alibaba Cloud's intelligent IoT life business, said that Alibaba Cloud is integrating Alibaba Cloud's global data center, Alibaba International Station , AliExpress , 1688 platform and other ecosystems to create comprehensive solutions for Chinese companies going overseas from a technical and commercial perspective. plan.
JD Group announced at the World Economic Forum Annual Meeting that JD.com’s logistics drone successfully flew for the first time in Indonesia. This is also the first successful flight of a Chinese logistics drone overseas. It is reported that the JD drone that completed its first flight in Indonesia has now been operating on a regular basis in 8 provinces in China, with a flight mileage of more than 120,000 kilometers.
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