Get out of the "roller coaster" market! U.S. stocks narrowed declines in late trade
Zhongxin Jingwei Client on March 7th, the US stock market narrowed its decline in the late session. The Dow closed down more than 250 points. At the time, it fell nearly 900 points. The S & P 500 closed down 1.7% and the Nasdaq closed down 1.87%. . Financial and energy stocks led the decline.
Source: Wind
As of the close, the Dow fell 256.50 points, or 0.98%, to 25864.78 points, and the Dow rose 1.77% this week; the Nasdaq fell 162.98 points, or 1.86%, to 8565.62 points, and the S & P 500 index rose 0.1% this week. It fell 51.57 points, or 1.71%, to 2,972.37 points, a cumulative increase of 0.59% this week.
This week, U.S. stocks out of the "roller coaster" market, the main stock index fluctuated violently. The Dow Jones Industrial Average rose more than 1,100 points on Monday and Wednesday, and recorded sharp declines on Tuesday and Thursday. US stocks continued to fluctuate and fell on Friday. The main stock indexes rose in late trading. At the close, they had shaken off the lowest point in the session, making the three major stock indexes record gains this week.
On Friday, large U.S. technology stocks fell across the board, with Apple down 1.36%, Amazon down 1.19%, Nai Fei down 1.02%, Google down 1.45%, Facebook down 2.24%, and Microsoft down 2.83%.
Most of the hot stocks closed down, Alibaba fell 3.17%, Jingdong fell 5.51%; Magic Line fell 25.42%, Qudian 8.48%, iQiyi fell 8.24%, Ruixing Coffee fell 7.78%, Baidu fell 3.81%, slightly Bo fell 3.45%, Weilai Automobile fell 4.84%, and Pinduoduo rose 1.77%.
U.S. financial stocks also fell across the board, JPMorgan Chase fell 5.13%, Goldman Sachs fell 3%, Citigroup fell 3.45%, Bank of America fell 1.83%, Bank of America fell 4%, Wells Fargo fell 4.63%, and Berkshire Hathaway Down 1.25%.
Affected by the plunge in oil prices, US energy stocks fell sharply across the board. Exxon Mobil fell 4.81%, Chevron fell 1.95%, ConocoPhillips fell 4.93%, Schlumberger fell 7.63%, and EOG Energy fell 10.64%. According to previous reports, OPEC and Russia "talked about collapse", OPEC representatives said that the OPEC + conference was over, but no agreement was reached. This led to a plunge in oil prices, and then the US and cloth oils fell 7%.
On Friday, President Trump said he expected financial markets to rebound. Trump said that the Dow Jones index is not that bad.
Kudlow, the US national economic adviser, said that investors should not overreact and there may be good investment opportunities. In terms of stock market investment, Americans should buy on dips.
In addition, Trump signed a $ 7.8 billion emergency coronavirus bill on Friday. Trump also said: "I don't know if a stimulus policy is needed. The Fed should cut interest rates and take stimulus measures. Financial markets are expected to rebound."
According to economic data, the US Department of Labor reported that the number of new non-farm employment in the United States in February recorded 273,000, which was higher than the previous value of 225,000 (revised to 273,000) and the market expected 175,000. The US unemployment rate announced in February was 3.5%, and the previous and expected values were both 3.6%. Average hourly earnings increased steadily by 3% year-on-year. (Zhongxin Jingwei APP)