Last night, the media revealed that the White House will launch a "big move" to rescue the market and plans to launch a US$1 trillion economic stimulus policy, which will include direct transfers of US$500 billion into Americans' accounts.

[Text/Observer Network Xu Qianang] The U.S. stock market fell out of historical records on March 17, and almost all of Trump’s “contributions” during his term were wiped out. Last night, the media revealed that the White House will launch a "big move" to rescue the market and plans to launch a US$1 trillion economic stimulus policy, which will include direct transfers of US$500 billion into Americans' accounts. and the Dow Jones Industrial Index launched a point defense battle. After falling below 20,000 points during the session, they ended in shock.

Finally, the Dow Jones Industrial Index rose 1,048.86 points, or 5.2%, to 21,237.38 points; the S&P 500 Index rose 143.06 points, or 6%, to 2,529.19 points; the Nasdaq Composite Index rose 430.19 points, or 6.23%, to 7,334.78 points.

Specifically, among the 30 constituent stocks of the Dow Jones Industrial Index, only 3 ended in the red. McDonald's announced yesterday that it plans to close its self-operated McDonald's restaurants across the United States and only provide takeout. It said that it was not yet able to assess the negative financial impact. The result closed down 0.93%. In addition, Disney, which was forced to close six theme parks around the world due to the epidemic, closed down 1.56%. Boeing closed down 4.22%.

The financial sector rose more than it fell. Morgan Stanley rose 6.67%; Bank of America rose 7.53%, Goldman Sachs rose 5.59%, Citigroup fell 2.28%. The five major FANNG technology stocks collectively became popular. Apple rose 4.4%, Amazon rose 7.03%, Netflix rose 7%, Google Google rose 4.2%, and Facebook rose 2.34%. Tesla fell 3.34%.

Among the popular Chinese concept stocks, Alibaba rose 3.33%, JD.com launched a US$2 billion buyback, rose 8.83%, Baidu rose 1.62%; Wanda Sports rose 23 .81%, Xunlei rose 18.91%, Happy Times rose 15.7%, Bilibili rose 9.88%, Weibo rose 3.05%, Pinduoduo rose 3.73%, NetEase rose 4.38%, Renren fell 14.61%, and NIO fell 1.36%.

The strength of US stocks also led to a rebound in European stock markets. European stocks closed collectively higher on Tuesday. Germany's DAX index rose 2.25% to 8939.1 points, France's CAC40 index rose 2.84% to 3991.78 points, and Britain's FTSE 100 index rose 2.37% to 5273.13 points.

The U.S. stock market opened on March 16 and triggered a circuit breaker. The Dow Jones Industrial Index eventually fell by nearly 3,000 points, setting a historical record with a drop of 12.93%, the largest single-day drop in 33 years. The Nasdaq Composite Index hit its highest one-day decline in history. As far as the Dow Jones Industrial Average is concerned, Trump has almost wiped out all its gains since taking office.

That night, " Wall Street Journal " quoted Trump administration officials as saying that the White House plans to launch an economic stimulus policy of up to 1 trillion US dollars. This includes direct cash payments of $250 billion to Americans; U.S. Treasury Secretary Mnuchin proposed that if the United States is still in a national emergency at the end of April, another $250 billion in checks will be sent. Sources also revealed that U.S. Treasury Secretary Mnuchin has reported to Congress that if stimulus fiscal measures are not taken, the U.S. unemployment rate will reach 20%. The U.S. government and Congress are still discussing the distribution targets. is initially expected to receive $1,000 for every American adult except millionaires and billionaires.

In addition, the White House also plans to prepare US$300 billion to support small businesses affected by the epidemic; and US$100 billion to help aviation and industrial companies.

On the other hand, the Fed will restart the "trick" used during the 2008 financial crisis. In order to ease liquidity in the financing market, the Federal Reserve announced the launch of a commercial paper financing facility to support the flow of credit to households and businesses in need. This facility is expected to improve the ability of businesses to maintain employment and investment during the epidemic.

The White House’s “cash to save the country” strategy seems to be a good thing for the market. However, in the long term, the U.S. stock market has been experiencing roller coaster-like rises and falls in the past four weeks. The Dow Jones Industrial Index has evaporated more than 8,300 points, or 27.46%, since its historical high on February 12. Some institutions have said that the market has fallen into panic selling.

"The market just doesn't know when the economy will be bad enough to buy the bottom." Dweck, chief strategist of international investment consulting firm Natixis, said, "For many people, the economic recession is just a thing of the past. The question now is how bad this recession will be."

As of press time, U.S. stock futures were generally down after the bell. The Dow Jones Industrial Average fell 650 points, paving the way for U.S. stocks to open lower the next day.

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