After Federal Reserve officials voiced their aggressive stance on interest rate hikes, selling pressure on US stocks continued to emerge. Panic VIX index rose above 20 Friday (19th) and the rise US bond yields hit technology, travel and leisure stocks. The shares were sold abruptly,bitcoinIn the flash crash, the stocks of the blockchain concept cannot escape murder, and even the optimistic financial forecasts of the material failed to stop the decline in chip stocks and the four major indices are sold out.
Dow JonesIt closed at 292.3 points, the biggest drop since August 2.that fingerIt fell more than 2%, the first time on July 11, and the S&P closed down 1.29%, its worst performance since June 28. For a week,Dow JonesIt was down 0.16% for the week and the S&P was down 1.21% for the week.that fingerIt fell 2.62% for the week, breaking its four-week streak of wins, ending its longest weekly rally since November last year.
In terms of politics and economics, the market expects next week the annual meeting of global central banks, Jackson Hole (Jackson Hole), finance ministers and central bank governors will give speeches, of which Federal Reserve Chairman Jerome Powell ( Jerome Powell) is preparing for the speech. In the spotlight, the outside world will discover Powell’s latest views on the economic outlook and quantitative tightening (QT) policy.
Federal Open Market Committee (FOMC) votes, including St. Louis Fed Chairman James Bullard and Kansas Fed Chairman Esther George, recently reiterated that they will continue to raise interest rates to curb high inflation. . Richmond Fed Chairman Thomas Barkin said Friday that the Fed will do all it can to bring inflation back to its 2% target, even if it risks a recession.
In terms of geopolitics, Indonesian President Joko Widodo confirmed that Chinese leader Xi Jinping and Russian President Vladimir Putin will attend the G20 summit in Bali, Indonesia, November 15-16, sparking an anxious and angry reaction in Western countries. .
“As President Biden has publicly stated, he doesn’t think he should be in the G20 because of Putin’s war on Ukraine, but if Putin is in the G20, Ukrainian President Volodymyr Zelensky should be there,” the White House said in a statement. Note. Friday. match.”
The global epidemic of novel coronary pneumonia (COVID-19) continues to spread. Before the deadline, data from Johns Hopkins University in the United States showed that the number of confirmed cases worldwide exceeded 594 million and the number of deaths exceeded 6.45 million. More than 12.4 billion doses of the vaccine have been administered in 184 countries around the world.
The performance of the four major US equity indices on Friday (19):
Focus the actions
The five kings of science and technology have become one. apple (AAPL-USA) fell by 1.51%; Half (META-US) fell by 3.84%; Alphabet (GOOGL-US) fell by 2.46%; Amazon (AMZN-USA) fell by 2.86%; Microsoft (MSFT-USA) fell 1.39%.
Dow JonesMore than half of the constituents were inferior. Boeing (BA-US) fell by 3.42%; JPMorgan Chase (JPM-USA) fell by 2.47%; Nike (UNITED STATES) fell by 2.46%; Salesforce (CRM-USA) fell by 2.21%; Johnson & Johnson (JNJ-USA) increased by 1.52%.
half shareAll components were stained with blood. microns (MU-USA) fell by 3.92%; AMD (AMD-USA) fell by 4.47%; NVIDIA (NVDA-USA) fell by 4.92%; Applied materials (AMAT-USA) fell by 3.36%; Texas Instruments (TXN-USA) fell by 1.13%; Qualcomm (QCOM-USA) fell by 2.50%.
Taiwan’s equity ADRs were generally weak. TSMC ADR (TSM-USA) down by 2.32%; ASE ADR (ASX-USA) down 3.04%; UMC ADR (UMC-USA) fell by 2.11%; Chunghwa Telecom ADR (CHT US) fell by 0.81%.
Company news
GameStop President Ryan Cohen has completed the liquidation of Bed Bath & Beyond (BBBY-US), BBBY plunged 40.54% to $ 11.03 per share on Friday, the largest one-day drop in its 30-year history.
Semiconductor equipment manufacturers have applied materials (AMAT-USAThe current market environment remains challenging, including constraints in the global supply chain, slowing investment in memory and a weak consumer market. “
Occidental Petroleum (Occidental Petroleum) (OXY-US) rose sharply in intraday trading on Friday, closing up 9.88% at $ 71.29 per share. Buffett’s Berkshire Hathaway has been authorized by the United States Federal Energy Regulatory Commission (FERC) to purchase up to 50% of Western oil stocks.
General Motors (GM-USA) was up 2.53% to $ 39.70 per share on Friday. General Motors announced Friday that it will resume paying a 9-cent dividend on September 15, as well as restarting its own stock program.
Wall Street Analysis
Jose Torres, Senior Economist at Interactive Brokers, said: “It is not good policy to fight the Fed right now. If the Fed shouldn’t fight it when it does quantitative easing and pushes up asset prices, why is the Fed now.” Are investors battling quantitative tightening? Just as US equities experienced a violent bear market rally in the summer, the decline could intensify in another way, especially when liquidity shrinks. “
Leo Grohowski, chief investment officer of BNY Wealth Management: “We think the Fed may be surprised by the idea of an early end of the tightening, and they are likely to make more aggressive comments. There has been a big shift in sentiment, and it might be a bit short-term. Too complacent. “
The data is updated before the deadline, please refer to the actual quotation.
–
