U.S. stocks plummeted! Apple, Microsoft, and Google are all spared, what happened?

　　Chinanews client, Beijing, September 4 (Reporter Xie Yiguan) On September 3, local time, US stocks suffered "Black Thursday."

On the previous trading day, the Nasdaq and S&P 500 index had just set new highs for US stocks, and they were suddenly killed by the shorts.

The three major stock indexes opened lower and moved lower. The Dow once fell more than 1,000 points, and the Nasdaq fell more than 5%.

US stocks fell sharply, the Dow fell 800 points overnight

　　As of the close, the three major U.S. stock indexes had their biggest one-day declines since June 11.

The Dow fell more than 800 points, down 2.78% to 28292.73 points; the Nasdaq fell nearly 600 points, down 4.96% to 11,458.1 points, falling below 12,000 points; the S&P 500 index fell 3.51% to 3,455.06 points.

The Market Panic Index (VIX) surged 26.46%, a new high in the past three months.

US stocks closing situation.

　　Technology stocks, which have continued to lead the rise in US stocks since March, have suffered heavy losses. Tesla has plunged 9.02%, which is a three-day losing streak.

According to documents from the US Securities Regulatory Commission, Baillie Gifford, Tesla's second-largest shareholder, significantly reduced its holdings of Tesla shares, and its shareholding ratio has dropped to 4.25%, which is much lower than the previous 6.32%.

　　In addition, Apple fell 8.01%, evaporating more than 150 billion US dollars in market value.

Microsoft fell 6.19%, Google fell 5.12%, Amazon fell 4.63%, Netflix fell 4.9%, and Facebook fell 3.76%.

　　Chinese concept stocks also fell. Alibaba fell 4.62%, JD.com fell 5.01%, Renren fell 28.77%, Momo fell 15.7%, Bilibili fell 7.1%, Pinduoduo fell 5.02%, and Weilai Automobile fell 6.01. %.

　　Under the influence of the US stock market crash, European stock markets were dragged down. The German DAX index closed down 1.4%, the French CAC40 index closed down 0.44%, and the UK FTSE 100 index closed down 1.52%.

　　However, the U.S. dollar strengthened, and the U.S. dollar index rose 0.14% to 92.7708, which has been rising for three consecutive days, which has triggered a decline in U.S. Treasury yields. On September 3, the 3-year U.S. Treasury yield fell 0.8 basis points to 0.149%, with a 5-year period. U.S. Treasury yields fell 0.5 basis points to 0.253%, and 10-year U.S. Treasury yields fell 1.6 basis points to 0.637%.

Data map: US President Trump is wearing a mask publicly for the first time.

Fox News is

responsible

　　Faced with the stock market crash, U.S. President Trump tweeted: "Have you noticed that whenever the results of polls suppressed by fake news, such as Fox News, appear, the stock market will fall. We will I won!"

　　According to foreign media reports, financial website analyst Mark DeCambre said that investors have been betting that the two parties in the United States will reach an agreement on the financial stimulus plan for the epidemic relief later this month to provide more relief to American consumers and businesses. But doubts about whether Washington lawmakers will introduce further fiscal stimulus measures may be a factor that discourages investors.

　　In addition, there are news affecting the US stock market: On September 2, local time, the American Automatic Data Processing Corporation (ADP) released data showing that the number of private sector employment in the United States increased by 428,000 in August, which was significantly lower than 950,000-1.17 million. Market expectations.

　　Oanda senior market analyst Ed Moya believes that there are technical reasons for the U.S. stock market crash.

Due to the deterioration of international relations and considering that US technology companies may be hit hard by the potential increase in import taxes, investors have transferred funds from the technology sector.

　　"With the continued sector rotation and the transfer of funds to cyclical stocks, large US technology stocks will eventually fall victim to the deterioration of international relations, and the Nasdaq will suffer the most severe blow." Ed Moya said.

On March 12, local time, a person wearing a mask walked through the New York Stock Exchange.

Photo by China News Agency reporter Liao Pan

US stocks will continue to fall?

　　Although Trump firmly stated, "We will win!" But in the market, investors and research institutions have divided their views on the U.S. stock market outlook.

　　Mike Wilson, Morgan Stanley's chief US equity strategist, believes that after such a strong rebound, the US stock market will definitely weaken in the coming weeks.

"In the next 12 months, we are still very optimistic about the prospects of US stocks. If the market pulls back 10%, it will not be surprising, but if the market does not pull back, it will not be surprising. We are in a bull market."

　　Billionaire and hedge fund giant Bill Ackman said that the upcoming US presidential election will create more uncertainty in the market in the coming weeks and months.

　　"The Standard & Poor's 500 Index is expected to fall by more than 8% to 3250 points by the end of the year." Bank of America analyst Savita Subramanian said that Wall Street still faces many risks.

"We are not out of the predicament. In fact, the opposite is true. The months leading up to the election usually have significant volatility."

　　"Asset prices may be on the verge of a sharp collapse, the so-called'Minsky moment', and U.S. stocks may retest their March lows." Ron William, market strategist at RW Consulting, believes that the first reason is the recent market gains. The narrow nature of the U.S. stock market is mainly driven by technology giants.

　　The term "Minsky moment" in economics refers to the moment of asset price collapse, which represents the turning point between market prosperity and recession.

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