China-Singapore Jingwei Client, March 23rd, in order to save the market, the Fed has moved again. However, the US stock market responded poorly. The Dow opened down 327.16 points, or 1.71%; the Nasdaq fell 24.65 points, or 0.36%; the S & P 500 index fell 33.03 points, or 1.43%.
The Dow then fell to more than 600 points, and the S & P 500 fell more than 3%.
As of press time, global stock index performance. Source: Wind
In terms of technology stocks, Apple fell 1.76%; Facebook fell 0.57%; Amazon fell 0.45%; Microsoft fell 1.71%; Google fell 1.07%; Nai Fei rose 5.7%; Tesla rose 0.58%.
U.S. financial stocks fell across the board, JPMorgan Chase fell 0.97%, Goldman Sachs fell 2.28%, Citigroup fell 0.68%, Morgan Stanley fell 1.65%, Bank of America fell 1.17%, Wells Fargo fell 0.8%, and Berkshire Hathaway fell 4.8%.
In terms of Chinese stocks, Alibaba fell 2.93%; Baidu rose 0.33%; JD.com rose 1.65%; NetEase rose 2.3%; Sina Weibo fell 0.76%; Pinduoduo rose 0.45%; Qu Toutiao fell 2.74%; Weilai fell 3.54% ; IQIYI fell 2.22%.
In the European market, as of press time, the British FTSE 100 index was reported at 5046.19 points, a decrease of 2.79%; the French CAC40 stock index was reported at 3993.26 points, a decrease of 1.37%.
On the evening of the 23rd, Beijing time, the Fed announced that it will continue to purchase U.S. Treasury bonds and mortgage-backed securities to support the smooth operation of the market. There is no upper limit, which is equivalent to an open quantitative easing policy. $ 75 billion in national debt and $ 50 billion in institutional home mortgage-backed securities (MBS) will be purchased each day this week, and daily and regular repo rates will be reset to 0%.
The Fed said it will expand the scale of money market liquidity facilities and will soon announce a "mass corporate loan program" to support SME lending. There is no timetable for the project, and legislation will make the project stronger.
In addition, the Fed announced the adjustment of technical rules that support bank lending. The adjustment involves the bank's "absorptive capacity to absorb losses" and will allow banks to use buffer funds for lending.
On Sunday evening, votes in the United States to push for a large-scale economic stimulus bill were blocked in the Senate. On Monday, U.S. stock futures index fell sharply again at the opening and soon hit the fuse limit.
U.S. Treasury Secretary Mnuchin said on Sunday that the White House will promote a series of economic stimulus programs that involve providing a portion of liquidity funds to SMEs and households to overcome temporary difficulties; at the same time, it will cooperate with the Federal Reserve to provide $ 4 trillion in flows Sex to support the overall economy.
The bill requires 60 votes to pass in the Senate, but Republicans can't convince any Democrats to pass it. This means that no aid will flow to the economy until an agreement is reached, including inspections of individuals, assistance to small businesses, and aid to large companies.
It is reported that the US Republican Party wanted to vote again on the economic stimulus plan 15 minutes after the US stock market opened on the 23rd.
Goldman Sachs expects US GDP to fall by 24% in the second quarter. Morgan Stanley predicts that US GDP will fall by 2.4% this quarter, but will begin to recover in the third quarter. (Zhongxin Jingwei APP)