The three major U.S. stock indexes closed sharply down

China-Singapore Jingwei Client, March 17th-On Monday, Eastern time, all three major US stock indexes closed sharply lower. The S & P 500 closed down nearly 12%, and fell more than 8% in early trading, triggering the third fuse this month and the fourth in history. The Dow closed down nearly 3,000 points, the lowest in three years, the largest drop in history, and the largest one-day drop since October 1987. Boeing fell more than 23%, leading the Dow. Apple fell nearly 13%.

Timeshare chart of the three major US stock indexes. Source: Wind

At the close, the Dow fell 2997.10 points, or 12.93%, to 20188.52 points; the Nasdaq fell 970.28 points, or 12.32%, to 6904.59 points; the S & P 500 index fell 324.89 points, or 11.98%, to 2386.13 points.

U.S. bank stocks fell, Citigroup fell more than 19%, Bank of America fell more than 17%, Morgan Stanley and JP Morgan Chase fell about 15%, Wells Fargo fell more than 14%, and Goldman Sachs fell more than 12%.

Popular Chinese stocks fell across the board, Alibaba fell 7.39%, JD.com fell 11.26%, and Baidu fell 10.58%; Renren fell 30.95%, Wanda Sports fell 26.87%, Sohu fell 25.23%, Qudian fell 24.52%, and Weibo fell 12.87%, Pinduoduo fell 4.65%, Weilai Automobile fell 6.11%, NetEase fell 11.43%.

As for individual stocks, Apple fell 12.98% to $ 242.71 per share. Earlier, Apple was fined a record $ 1.2 billion by French antitrust authorities.

On the news, the Federal Reserve urgently announced on Monday to reduce the target range of the federal funds rate by 1 percentage point, bringing it to the range of 0% to 0.25%, and launched a quantitative easing (QE) program totaling $ 700 billion. The Federal Reserve also cut banks' emergency loan discount rates by 125 basis points to 0.25% and extended the loan term to 90 days.

According to Goldman Sachs forecast, affected by the epidemic, US GDP may shrink by 5% in the first quarter.

On the 16th, the global stock market is now fusing. According to incomplete statistics, in addition to the US stocks, the Brazilian stock market, the Canadian stock market, and the Egyptian stock market have all "melted out."

As for European stocks, European stocks closed down. The London Stock Market's "Financial Times" 100 stocks average price index closed at 5151.08 points on the 16th, down 215.03 points or 4.01% from the previous trading day; the German Frankfurt stock market DAX index on the 16th fell 489.83 points, a drop of 5.31%, reported It closed at 8742.25 points; the Paris Paris France CAC40 index closed at 3886.46 points on the 16th, down 236.90 points or 5.75% from the previous trading day.

In terms of international gold prices, the price of gold futures delivered in April on the New York Mercantile Exchange fell by $ 30.20, or 2%, to close at $ 1,486.50 per ounce, the lowest since December 20, 2019.

In terms of international oil prices, the price of West Texas Intermediate Crude Oil (WTI) futures delivered by the New York Mercantile Exchange fell by 3.03 US dollars, or 9.6%, to close at 28.70 US dollars per barrel. Brent crude for May delivery on the London Intercontinental Exchange closed down $ 3.80, down 11.2%, to close at $ 30.05 per barrel.

The US dollar index fell on the 16th. As of late trading in the New York currency market, the US dollar index, which measures the dollar against six major currencies, fell 0.70% to 98.0821. (Zhongxin Jingwei APP)