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1, March EDT 18, affected by the spread of the epidemic, the US stock market continued to plummet. At 12: 56 EST, the Standard & Poor's 500 index fell more than 7% in intraday trading, triggering a primary fuse mechanism. In intraday trading, the Dow Jones Industrial Average once fell below the 19000 mark, exceeding 10.7%, falling by over 10000 points compared with the highest point in the year, directly erasing all the gains in the past three years. As of the close of the day, the Dow plunged 1338 points, down 6.3%, and the Nasdaq index fell 4.7%. Among them, Tesla fell the most seriously, and its market value evaporated by about 65.438+0.269 billion US dollars. According to statistics, since the introduction of the fuse mechanism, there have been five fuses in the history of US stocks, four in 2020, within two weeks.
2. Due to the continuous spread of the epidemic, the NYSE temporarily closed the trading hall on March 23, and started the all-electronic trading system, and the US stock trading proceeded normally. This will be the first time in the 227-year history of the NYSE to maintain market transactions while closing the trading hall. On April 20th, at the end of the settlement period from 2: 08 pm to 2: 30 pm EST, the price of May crude oil futures contract fell below $0 per barrel, which was the first time since the WTI futures contract started at 1983. On April 20th, May crude oil futures contract hit a new low of -40.32 USD/barrel, and the final settlement price was -37.63 USD/barrel. All other expired WTI contracts will be settled at the positive price on April 20th. Why is this commodity, which is used in almost all walks of life around the world, reduced to the point where sellers have to pay buyers to get rid of it?
3. According to the investigation report of the Commodity Futures Trading Commission of the United States, the "negative oil price" incident is caused by many factors including fundamental factors and technical aspects, including oversupply in the oil market, reduced demand due to the epidemic, and uncertainty of supply and demand. In the past few years, Charlie and I have been thinking about the future of Berkshire Hathaway and its successor plan. We have been preparing for Ajit Jain and Greg Abel to take over our work. However, after the poor performance in the past decade and the mistakes made in recent months, it is obvious that severe measures must be taken. In the first half of this year, after Buffett cut off aviation stocks, he suffered a collective surge in aviation stocks.