China-Singapore Jingwei, September 24th. On Friday, Eastern Time, European and American stock markets fell sharply, and the exchange rate of the pound against the US dollar fell to a new low in 37 years.
As of press time, U.S. stocks have "four consecutive losses". The Dow fell nearly 500 points to 29590.41 points, or 1.62%; the Nasdaq fell more than 3% during the session, closing down 1.80% to 10867.93 points, and the S&P 500 fell 1.72% to 3693.23 points. .
Screenshot source: Wind
On the news, the British government announced a series of measures on the 23rd to boost the economy, including large-scale tax cuts and abolition of the cap on banking bonuses.
CCTV news reported that the British government decided to cut taxes and pay energy bills, and the target amount of debt issuance this fiscal year has also increased, increasing by about 45% to 234.1 billion pounds.
The report quoted the Associated Press as saying that many Conservatives did not agree with the large-scale borrowing now, worrying that it would weaken confidence in the British economy.
In addition, in the early morning of the 22nd, Beijing time, the Federal Reserve raised interest rates again by 75 basis points to the range of 3.00%-3.25%, which was the fifth rate hike this year, with a cumulative rate hike of 300 basis points.
Analysts believe that the sell-off in U.S. stocks may continue as the market worries that the Fed's continued aggressive interest rate hikes may plunge the U.S. economy into recession.
Affected by the above news, on the disk, large-scale US stocks fell across the board, with Apple down 1.51%, Amazon down 3.01%, Netflix down 4.49%, Google down 1.4%, Facebook down 1.69%, and Microsoft down 1.27%.
U.S. stock banking stocks fell collectively, with JPMorgan Chase down 1.77%, Goldman Sachs down 3.5%, Citigroup down 2.87%, Morgan Stanley down 3.83%, Bank of America down 2.31%, and Wells Fargo down 2.58%.
U.S. energy stocks were weak, with Exxon Mobil down 5.31%, Chevron down 6.51%, ConocoPhillips down 8.63%, Schlumberger down 8.48%, and Occidental Oil down 5.08%.
Most of the popular Chinese concept stocks fell, Ucom Factory fell 41.29%, Quhuo Technology fell 13.85%, AMTD Digital fell 10.09%, Bellawings Education fell 9.67%, Origen Seed Industry fell 8.72%, Tiger Securities fell 6.94%, Tuniu fell 6.24%, Fogcore Technology fell 6.03%; in terms of gains, Golden Sun Education rose 92.05%, Mogujie rose 10.63%, Tianmei Biological rose 8.42%, and Tucson Future rose 4.37%.
Zhonggai new energy auto stocks were mixed, with NIO down 3.81%, Xiaopeng Motors down 0.07%, and Ideal Auto up 3.18%.
The three major European stock indexes fell across the board.
The 100-stock average price index of the "Financial Times" stock market in London, England, closed at 7018.60 points on the 23rd, a decrease of 1.97%; the CAC40 index of the French Paris stock market closed at 5783.41 points, a decrease of 2.28%; the DAX index of the Frankfurt stock market in Germany closed at 12284.19 point, down 1.97%.
The most actively traded December gold futures price in the New York Mercantile Exchange gold futures market fell $25.5 from the previous trading day to close at $1,655.6 an ounce on the 23rd, a decrease of 1.52%.
New York oil prices fell sharply on the 23rd, and the price of New York light crude oil futures for November delivery fell $4.75 to close at $78.74 a barrel.
The dollar index rose sharply on the 23rd. As of late New York trading, the dollar index, which measures the greenback against six major currencies, rose 1.65% to 113.1890.
It is worth mentioning that on September 23, the exchange rate of the pound against the US dollar fell to a new low in 37 years.
Wind data shows that as of press time, the exchange rate of the pound against the dollar fell 3.47% to 1.08.
In addition, 10-year British bond yields rose more than 30 basis points, the biggest rise since 1998.
(Sino-Singapore Jingwei APP)
(The opinions in this article are for reference only and do not constitute investment advice. Investment is risky, and you need to be cautious when entering the market.)