U.S. stocks dived more than 1% in late trading, financial and technology stocks fell across the board

　　Sino-Singapore Jingwei Client October 7th. On Tuesday, Eastern Time, US stocks plunged in late trading, and the three major indexes all fell more than 1%.

　　As of the close, the Dow fell 375.88 points to 27772.76 points, a decrease of 1.34%; the Nasdaq fell 177.89 points to 11154.60 points, a decrease of 1.57%; the S&P 500 index fell 47.66 points to 3,360.97 points, a decrease of 1.40%.

　　All-day trend of the three major US stock indexes Source: Wind

　　On the disk, the five sectors leading the gains were: education services rose by 3.16%, alcoholic beverages rose by 1.92%, food distribution rose by 1.8%, health information services rose by 1.7%, and metal products rose by 1.64%.

The five sectors that led the decline were: Jiaolian Coal fell by 4.3%, gaming fell by 4.06%, silver fell by 4.06%, gold fell by 4.04%, and thermal coal fell by 3.57%.

　　Financial stocks fell across the board, Morgan Stanley fell nearly 2%, JP Morgan Chase, Citi, Bank of America, Wells Fargo, Berkshire Hathaway all fell more than 1%.

Technology stocks fell collectively, Amazon fell more than 3%, Apple, Netflix, Google, Facebook, and Microsoft all fell more than 2%.

Energy stocks also weakened. ConocoPhillips and Schlumberger fell more than 2%, Exxon Mobil and EOG Energy fell more than 1%, and Chevron fell 0.55%.

　　In terms of Chinese concept stocks, 147 Chinese concept stocks listed in the US rose and 128 fell.

Among the well-known Chinese concept stocks, Qutoutiao and Bilibili rose nearly 7%, Alibaba, Sina Weibo, Pinduoduo, and iQiyi rose more than 1%, Baidu rose, JD.com, Sina, etc. rose red; Weilai fell 4.26 %, NetEase fell 1.35%.

　　On the news, US President Trump said on Tuesday that he rejected the Democratic Party’s stimulus plan and ordered his representatives to stop negotiations until the end of the presidential election.

Industry insiders pointed out that before the fiscal stimulus negotiations seemed to be able to make some progress, now Trump suddenly dropped a bomb and all assets have been sold.

　　In addition, Fed Chairman Powell said in a speech on Tuesday that the US economic outlook is still highly uncertain, economic expansion is far from complete, and the risk of over-aid is less than the risk of under-aid.

If there is not enough government assistance, the US economic recovery will be weak, and excessive stimulus measures will not cause problems.

　　In the global market, the Hong Kong Hang Seng Index closed up 0.9% to 23,980.650 points; the Nikkei 225 Index closed up 0.52% to 23,433.73 points.

European stock markets closed higher. The German DAX index rose 0.61%, the French CAC40 index rose 0.48%, and the UK FTSE 100 index rose 0.12%.

　　The price of West Texas Intermediate Crude Oil (WTI) futures for November delivery on the New York Mercantile Exchange rose 1.45 US dollars, or 3.7%, to close at 40.67 US dollars per barrel.

　　The price of gold futures for December delivery on the New York Mercantile Exchange fell by $11.30, or 0.6%, to $1,908.80 per ounce; the price of silver futures for December delivery fell 64 cents, or 2.6%, to close at $23.92 per ounce.

(Zhongxin Jingwei APP)