Chinanews client Beijing March 12 (Xie Yiguan) On March 11, local time in the United States, US stocks failed to continue the rally of the previous trading day, and the three major stock indexes fell more than 2% at the opening. The intraday losses continued to widen, with the Dow now down more than 4% and the S & P 500 now down more than 3%.

As of press time, the three major US stock indexes fell intraday.

At the time of writing, the Dow Jones Index fell 1003.22 points, or 4.01%, to 24014.94 points; the Nasdaq Index fell 270.43 points, or 3.24%, to 8,073.82 points; the S & P 500 Index fell 104.38 points, or 3.62%, to 2,778.85 points .

In terms of sectors, the opening of U.S. energy and oil stocks suffered a severe setback, Apache Oil and Western Petroleum fell nearly 10%, Marathon Petroleum and British Petroleum fell nearly 6%, Exxon Mobil fell 2.23%, Chevron fell 1.91%, Kang Philippine Oil fell 4.53%, Schlumberger fell 3.82%, and EOG Energy fell 6.23%.

Large-scale technology stocks opened lower across the board. Apple fell 3.03%, Amazon fell 1.78%, Nai Fei fell 1.16%, Google fell 2.2%, Facebook fell 1.74%, and Microsoft fell 2.76%.

Chinese stocks also opened lower following the broader market. Alibaba fell 2.22%, JD.com fell 2.2%, Baidu fell 2.39%, Weibo fell 2.39%, and Pinduoduo fell 5.01%. However, at the beginning of the session, many Chinese stocks turned against the market, and JD.com, Netease, and Vipshop will increase by more than 2%.

U.S. stock anti-epidemic concept stocks surged against the trend. CO-DIAGNOSTICS rose nearly 60%, INOVIO PHARMACEUTICALS rose over 30%, United Healthcare products rose over 28%, and thermal biologics rose over 23%.

Data Map: New York Stock Exchange.

On the news, according to foreign media reports, US President Trump did not show up at the White House's New Crown epidemic briefing on Tuesday. A day ago, he promised to hold a press conference to announce a "significant" economic stimulus package.

Some analysts said, "The U.S. futures market responded to the rebound in European stock markets on the morning of the 11th. However, U.S. stocks were still lower because of doubts about the willingness of the U.S. government to take prompt action to respond to the coronavirus epidemic."

US stock index futures were in a downward trend on the 11th. At press time, the Nasdaq 100 futures fell more than 3%, and the S & P 500 futures fell nearly 3.5%.

At the same time as US stocks were lower, the performance of major European stock indexes was also relatively weak, with British, French and German stock markets opening higher and lower. At press time, the British FTSE 100 index fell about 0.8%; the French CAC40 index fell about 0.5%; the German DAX index fell about 0.7%.

On the 11th, the Bank of England suddenly cut interest rates by 50 basis points. The Bank of England said it announced the decision to fight the epidemic and would take further steps to support the UK economy. The new SME loan scheme can provide more than 100 billion pounds of loans for four years.

European Central Bank President Lagarde said that due to the new crown pneumonia epidemic, Europe is facing the risk of a crisis like 2008 and warned EU leaders that the economy will suffer a great deal and urgent measures need to be taken now.

At present, the price of gold with a safe-haven nature has risen slightly, and the London gold spot is now up 0.12% to $ 1651.63 per ounce.

"Although market sentiment is still volatile, today there will continue to be sought after safe-haven assets," said Justin Lederer, Cantor Fitzgerald's Treasury analyst.

Dow Jones K-line chart.

Investment bank Goldman Sachs said on the 11th that the bull market for the S & P 500 index will soon end. The target point of the S & P 500 Index is expected to be 2,450 in the middle of this year, 15% lower than the closing price on the 10th, and 28% lower than the previous high.

Goldman Sachs chief US stock strategist David Kostin said that the longest-running bull market in American history will soon come to an end and that US stocks will experience greater losses than in the past three weeks.

"The outbreak of the epidemic has become the cause of the end of the 11-year U.S. bull market." CITIC Securities believes that the current economic and earnings data still do not fully reflect the impact of the epidemic. The value of the "double kill" pattern. (Finish)