3 U.S. stocks ushered in a tragic epic plunge on Tuesday. Due to this impact, today, opened generally fell sharply, and A shares became a hot search again.
On Tuesday, September 13, local time, the decline in U.S. inflation in August was lower than expected, causing the market's good expectations for Federal Reserve to slow down the pace of interest rate hikes , and the market panic index soared.
The three major U.S. stock indexes opened low and closed low on the same day, and continued to fall sharply at the end of the trading session. The Dow Jones Industrial Average closed down more than 1,200 points, and the Nasdaq plummeted by more than 5%, the largest drop since June 11, 2020. According to iFind data from Tonghuashun, the total market value of the US stock market has lost about US$2.36 trillion (about RMB 16.34 trillion) ; star technology stock suffered a heavy blow. The market value of the "six giants" of technology stocks evaporated overnight, totaling about US$530 billion (about RMB 3700 billion).
U.S. President Biden said after the closing of the day that stock market trend does not necessarily reflect the overall economic situation; there is no worry about the inflation report released today.
3 Apple market value evaporated US$150 billion
Eastern Eastern Tuesday, September 13, the US August CPI inflation data released before the market unexpectedly higher than market expectations. Investors believe that this means that the Federal Reserve will raise interest rates for a hawkishly for a longer period of time, and the market for has started a "panic selling mode."
The VIX panic index, which measures the degree of panic, once soared more than 18% to 28.15. Although it has fallen, it is still around 27.2, indicating that the market is in extreme panic.
Eastern Eastern On Tuesday, September 13, US stocks opened sharply, and then the decline expanded rapidly. The decline continued to deepen at the end of the trading day, and collectively closed near the daily low.
From the perspective of the market, large technology stocks fell significantly , Facebook parent company Meta fell more than 9%, and its stock price hit the lowest in more than two years. Amazon and Netflix both fell more than 7%, Apple fell 5.87%, Apple's market value evaporated by US$150 billion overnight, Microsoft fell 5.5%, and Tesla fell more than 4%.
On September 14, the topic #Apple's market value evaporated by US$150 billion overnight# reached the high level of hot searches on Weibo, and the topic #Apple admits to adding system advertising#.
According to the invitation letter sent by Apple on Tuesday, the company invited developers to participate in an online meeting to encourage them to purchase advertisements, and plans to release new App Store advertising space as early as this holiday season.
new ad unit represents a significant expansion of Apple's advertising inventory . Currently, the company's advertising inventory is mainly concentrated on the App Store. In recent years, Apple's advertising inventory has been limited to one unit in the App Store search tag and one unit in the search result page. Some netizens said that the money evaporated by the stock market is earned back from the system advertisements...
Wall Street Chilling
With the end of the ten-year bull market in the US stock market, the Wall Street myth seems to be shattering. According to US consumer news and business channel on Monday local time, internationally renowned investment bank Goldman Sachs Group took the lead in restarting the last-place elimination system, and hundreds of people will face layoffs.
After this, on Tuesday, Eastern Time, Daniel Pinto, president of another investment bank, , JPMorgan Chase , also publicly stated that in the three months ended September 30, JPMorgan Chase's revenue through underwriting bond transactions and providing consulting services may drop by 45%-50%. According to previous financial reports, JPMorgan Chase's investment banking division's intermediary revenue was $3.3 billion in the third quarter of last year, boosted by record consultant revenue.
Citigroup CFO Mark Mason also said on Tuesday that the revenue of investment banking business in the current quarter may drop by 50% year-on-year.
On Tuesday, Banks and financial stocks fell due to concerns about economic recession amid hawkish interest rate hikes . JPMorgan Chase fell 3.47%, Goldman Sachs fell 4.16%, Citi fell 3.72%, Morgan Stanley fell 3.44%, Bank of America fell 3.6%, and Wells Fargo fell 5.1%.
Biden said there is no need to worry about
After the closing of the US stock market, US President Biden spoke out again. He said that the stock market, which fell sharply due to inflation concerns that day, did not necessarily reflect the overall situation of the economy. He said is not worried about the inflation data released on that day.
3 stock market plummeted, White House On the day of celebrating
CNN cut off live broadcast
On the day the stock market plummeted, the White House celebrated the approval of the "Inflation Cut Act".
According to the US " New York Post ", on the 13th local time, just a few hours after the US inflation rate data was released in August, the White House held a celebration party for the "Inflation Cutdown Act", which caused ridicule among American netizens.
This carnival party kicked off with the song of American folk singer James Taylor to set off the atmosphere. The party not only did not mention the bleak data of the consumer price index released by the US Department of Labor and the resulting stock market plunge, but also claimed that the recently passed Inflation Cut Act will help reduce inflation. The contrasting scene of
has sparked heated discussions on domestic public opinion in the United States. "Hours after this terrible inflation report, the White House is hosting a celebration of 'low inflation'. The government has put our economy in disaster. Now they are partying, but American families are paying for it. If they (referring to White House officials) have the same experience, they will not appear so out of place."
Not long before the celebration began, White House Press Secretary Jean-Pierre was also questioned by US media reporters at the briefing, "Are you worried that the current economic situation is incompatible with today's celebrations?"
"American Prosperity" organization tweeted that US inflation data continues to rise Image source: Twitter
Related topics have also sparked heated discussions on the social platform Twitter . The "American Prosperity" organization posted on Twitter, listing the rises after various types of price inflation in the United States. Staff of the U.S. House of Means and Means Committee also tweeted that for most low-income families, rising prices have become a source of major financial pressure. Since the current U.S. administration, inflation has exhausted 26 million low-income families' savings. The so-called Inflation Cuts Act will only make things worse.
"The entire government is completely out of touch with the people." Many American netizens also left messages saying: " The White House is so unearthy. Holding a party is because the White House believes that inflation is falling , but it is not the case. We are in an economic recession."
US stocks plummeted, dragging down, Asia-Pacific stock markets fell collectively
was impacted by the overnight sharp drop in US stocks. Today, the Asia-Pacific stock market generally fell sharply and fell sharply intraday. As of 11:30, the Nikkei 225 index fell 2.19% to 27,990 points; the South Korean Composite Index fell 1.44% to 2,414.34 points; the Australian S&P 200 index fell 2.39% to 6,842.2 points; and the New Zealand NZX50 index fell 0.99% to 11,645.05 points.
A shares market also saw a pullback in the early trading, with Shanghai Composite Index falling 1.02%, and the ChiNext Index falling 2.01%.As of the midday closing, the Shanghai Composite Index fell 1.02%, the Shenzhen Component Index fell 1.5%, the ChiNext Index fell 2.01%, losing 2,500 points, and CATL fell more than 4%.
More than 4100 stocks in the two markets fell, and only more than 600 stocks rose. The topic #A shares# has once again become a hot search on Weibo. Many netizens said, "I dare not check the account at all."
Huaan Securities said that the sharp fluctuations or adjustments in the US stock market will have external risk constraints on A-shares, but this inhibition may only cause a very short intraday impact, and will not change the recent steady recovery of A-shares . Intraday impact instead provides a good opportunity to increase positions. The support for the steady recovery of A-shares is mainly: on the one hand, the economy in August and September showed better upward elasticity than in July; on the other hand, the environment of active loose monetary policy in and reasonable liquidity remained unchanged.
Edit丨Zhang Lan Comprehensive CCTV Finance, Securities Times, Global Times, Daily Economic News, etc.
Picture丨CCTV Finance video screenshots, Sina Weibo screenshots, Visual China, Twitter screenshots, etc.
