China-Singapore Jingwei, March 17. On Wednesday (March 16), Eastern Time, the three major U.S. stock indexes rose across the board, the Dow rose 1.55%, the S&P 500 rose 2.24%, and the Nasdaq rose 3.77%.

Technology stocks rose sharply, Apple rose nearly 3%, Tesla rose nearly 5%, Facebook rose more than 6%; China concept stocks soared, 21Vianet, Zhihu rose more than 80%, Kingsoft Cloud rose more than 72%, and joyful gathering rose Over 66%.

　　On the same day, the Federal Reserve announced the March FOMC interest rate decision statement, raising the benchmark interest rate by 25 basis points to the range of 0.25%-0.50%, and the discount rate from 0.25% to 0.5%.

　　The Fed's FOMC March dot plot shows that officials expect the Fed to raise interest rates a total of 7 times in 2022, that is, 25 basis points of interest rate hikes at each FOMC meeting for the rest of this year, to 1.9% by the end of 2022 and 2.8% by the end of 2023.

Dot Plot Source: Federal Reserve Official Website

　　Federal Reserve Chairman Jerome Powell said inflation will take longer to hit its target, with rising energy prices pushing up inflation and policy will continue to adapt to changing circumstances.

Meanwhile, the Federal Reserve could announce a balance sheet adjustment as soon as May, and is finalizing the details of the balance sheet issue.

　　After the Fed's interest rate decision was announced, the three major U.S. stock indexes fell short-term, and the Dow once turned green.

Shortly thereafter, the stock index resumed its upward trend.

As of the close, the Dow rose 1.55%, the S&P 500 rose 2.24%, and the Nasdaq rose 3.77%.

　　Large technology stocks rose collectively, Facebook rose 6.04%, Netflix rose 4.01%, Amazon rose 3.89%, Google rose 3.16%, Apple rose 2.9%, and Microsoft rose 2.52%.

　　Bank stocks rose collectively, Morgan Stanley rose 6.31%, JPMorgan Chase rose 4.47%, Goldman Sachs rose 3.53%, Bank of America rose 3.13%, Citigroup rose 3.07%, and Wells Fargo rose 2.97%.

　　Energy stocks fell across the board, with Schlumberger down 3.49%, Occidental Oil down 2.86%, Chevron down 0.38%, Exxon Mobil down 0.36%, and ConocoPhillips down 0.26%.

　　Airline stocks rose collectively, United Airlines rose 7.71%, Delta Airlines rose 5.91%, American Airlines rose 5.78%, Boeing rose 5.06%, and Southwest Airlines rose 2.43%.

　　The Chinese concept stocks continued their rebound trend, and the Nasdaq Golden Dragon China Index rose by more than 30%.

In terms of individual stocks, 21Vianet rose 83.25%, Kingsoft Cloud rose 72.27%, Huanju rose 66.35%, Dingdong Maicai rose 65.49%, Shell rose 64.35%, Douyu rose 60.56%, Pinduoduo rose 56.06%, and iQiyi rose 49.76% %, Bilibili rose 47.56%, Jingdong rose 39.36%, Baidu rose 39.2%, and Alibaba rose 36.65%.

New energy vehicle stocks rose collectively, with NIO up 25.59%, Xiaopeng Motors up 29.74%, and Ideal Auto up 31.9%.

Source: Wind

　　On the news, the Financial Stability and Development Committee of the State Council held a special meeting to study the current economic situation and capital market issues.

The meeting mentioned several important aspects, involving macroeconomic operation, real estate companies, Chinese concept stocks, platform economy and the stability of Hong Kong's financial market.

　　Major European stock indexes also closed sharply higher, with Germany's DAX up 3.76%, France's CAC40 up 3.68%, and the UK's FTSE 100 up 1.75%, hitting new closing highs in two weeks.

　　Crude oil continued to fall. WTI April crude oil futures closed down $1.40, or 1.45%, at $95.04 per barrel; Brent May crude oil futures closed down $1.89, or 1.89%, at $98.02 per barrel.

　　In gold, April gold futures on the COMEX closed down 1.1% at $1,909.20 an ounce.

(Sino-Singapore Jingwei APP)