US President Donald Trump once again criticized the Federal Reserve on Monday, arguing that the Fed's "no perception of the market" is the only problem in the US economy. Last weekend, many media quoted people familiar with the matter as saying that Trump had privately discussed whether to fire Federal Reserve Chairman Bauer after the US stock market plunged for several months and the Federal Reserve raised interest rates last Wednesday, but Trump denied the truth of this news.
U.S. Treasury Secretary Mnuchin sent an urgent telegram to the heads of six major U.S. banks over the weekend, asking about liquidity problems, and held talks with officials of five major financial market regulators-Federal Reserve, Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC) and Office of Monetary Supervision (OCC) under the Ministry of Finance on Monday. These institutions briefly reported their plans to monitor the market during the government shutdown, and assured Mnuchin that despite the recent stock market crash, they did not see any market anomalies.
There are still big differences in Trump's border wall budget negotiations. The U.S. government officially closed its doors at 0: 00 local time on February 22nd 19. Senior White House officials said that the lockout would last until June 20th19. The turnover of key cabinet members in the US government is also unexpected. It is alleged that Trump was angered by the resignation letter of Defense Minister Matisse and said last weekend that he would replace him two months in advance.
The market is worried that the Fed's interest rate hike will lead to an increase in interest rates, the US economy will slow down, and the government's closure will have a negative impact on the economy. Due to the Christmas holiday, US stocks closed three hours early on Monday; It is closed all day on Tuesdays.
The Standard & Poor's 500 Index closed down 65.52 points, or 2.7 1%, to 235 1. 10, the lowest since April 20 17, and officially entered a technical bear market. The Dow Jones Industrial Average closed down 653. 17, or 2.9 1%, to 2 1792.20, the worst performance on Christmas Eve. The Nasdaq Composite Index closed down 140.08 points, or 2.2 1%, to 6 192.92 points.
According to Bloomberg statistics, the Standard & Poor's 500-stock market fell by 20% from its 52-week intraday high set on September 2 1. However, from the closing high on September 20th, the S&P 500 fell by 19.8%, which is 7 points short of the bear market measured by this indicator. At the same time, the Dow is only 2. 1% higher than the bear market.
S&P 1 1 plates all fell on Monday, and collectively turned down in February, the fourth quarter and the whole year. The Standard & Poor's 500 Index Bank Index fell nearly 1.2% today, and the Standard & Poor's 500 Energy Index fell nearly 3.9%, both hitting new lows in more than two years. The KBW ETF, which tracks the largest bank stock in the United States, fell 1.4%, with a cumulative decline of nearly 20% in February, or the biggest monthly decline since 2009.
U.S. stocks fell collectively for the fourth consecutive trading day, with the Dow and the Standard & Poor's 500 hitting the worst performance on Christmas Eve. The previous record was 1985 on Christmas Eve, when both major stock indexes fell more than 0.6%. The Standard & Poor's 500 index fell by 20.06% from its 52-week high, the Dow Jones Industrial Average also fell by nearly 18% from its high, and the Nasdaq index fell by nearly 23% from its high of the year.
U.s. stocks fluctuated extremely on Monday. The opening indexes all fell. The Dow opened lower 160 points, and the decline quickly expanded to more than 400 points. S&P fell the most, 2%, while Nasdaq index fell by 1.8%, which was more than 1 10 point. Before midday, the decline of US stocks narrowed, and the Nasdaq took the lead in turning higher. Near the close, the three major indexes accelerated their decline again. The panic index VIX rose by more than 17% to 35.38, the highest since February 9, while it was only 1 1.04 at the beginning of the year.
French technology star stocks fell across the board. Facebook once rose 3% and closed down 0.82%; Google's parent company Alphabet rose nearly 2% in intraday trading and closed down 0.66%; Amazon once turned up in intraday trading, erasing the decline of nearly 5% in the day, driving Nasdaq to turn up briefly before midday, and finally fell more than 2% with Apple, and Netflix fell more than 5%. Tesla closed down 7.6% and fell below $300 to $295; Microsoft closed down more than 4%.
JD。 COM's initial decline quickly expanded to more than 7%, falling below $20 and closing down 6.3 1% to 19.75. The intraday low hit $65,438 +09.26, only 5 cents short of the 52-week low. Other Chinese stocks were mixed, with Baidu closing down 0.2%, Alibaba closing down 0. 1% and Netease closing up 0.25% and 3% respectively.
While the performance of US stocks is bleak, some investors also cite data trends to maintain their confidence in the US economic growth next year. Robin Creswell, managing director of Peden & ampRygel Investment Management, told the Wall Street Journal that the short-term market sentiment was mainly driven by the Fed's decision to raise interest rates, but the fundamental layout of long-term investors remained largely unchanged.
However, Win Thin, head of global monetary strategy at BBH, a veteran investment bank, said that market sentiment has deteriorated to the point of assuming the worst case, that is, Federal Reserve Chairman Powell was fired. The US Treasury Secretary also made a "newcomer's mistake" and tried to assure the market that there was "sufficient liquidity". However, it is suspected that the finance minister knows some information that the market does not know. Before last weekend, the market was not very worried about the liquidity problem.
In Europe, the FTSE Pan-European 300 Index closed down 0.40% to 1323.54. The pan-European Stoxx 600 index fell 0.42% to 335.24, the lowest in more than two years. Britain's FTSE 100 index closed down 0.52% to 6685.99 points; The French CAC index closed down 1.45% at 4626.39 points; Spain's IBEX 35 index closed down 0.89% to 8480.60. Germany DAX and Italy FTSE MIB index closed on Monday; European stock markets will be closed for one day on Tuesday.
According to the statistics of American Consumer News and Business Channel, since June 5438+February, the global stock market has fallen by nearly 9.5%, the biggest one-day drop since the debt crisis in September 201/. The Morgan Stanley Capital International ACWI Global Index, which tracks the stock indexes of 47 countries around the world, has fallen by nearly 7% in the past seven days, the biggest continuous decline since June 20 16.
After the US stock market closed, international oil prices accelerated. WTI and Brent crude oil both fell more than 6%, and both fell more than 3 dollars that day.
The lowest WTI of American Oil Company reached $42.465438 +0/ barrel, constantly refreshing 201the lowest since June/July 18 months. Us stocks fell below the integer mark of $45 and $44 in intraday trading, and fell below $43 in after-hours trading. In the end, WTI February crude oil futures closed down 3.06 USD, down 6.7 1% to 42.53 USD/barrel, the lowest closing since June 20 17.
The lowest oil distribution hit $50.72/barrel, down 6.2% or $3.32, hitting a six-month low of/kloc-0; Us stocks once fell below $53 and $52 in intraday trading, and once fell below 5 1 dollar after trading. In the end, Brent crude oil futures closed down 3.35 US dollars in February, down 6.22% to 50.47 US dollars/barrel, the lowest since 2065438+August 2007.
SC 1903, the main contract of crude oil futures in the previous issue, closed down 5.29% to 362.20 yuan; 1October 9 10 rose to 597.00 yuan, the highest closing record of the main contract since the first trading day of the last crude oil futures (March 26).
Spot gold rose more than 1%, approaching the integer of 1.270 USD/ounce, the highest in the past six months since late June this year. Comex gold futures closed up 1. 1% at 127 1.80 USD/oz, the highest since June, and broke through the integer mark of 1270 USD.
The analysis pointed out that the increase of global political and economic uncertainty and the stock market crash have made the market risk aversion high, and the weakening of the US dollar index is also beneficial to the commodities denominated in US dollars. Gold has rebounded by nearly 9% from the lowest 1 159.96 USD/oz in mid-August.
LME copper futures closed down 0.6% at $5,955.50/ton, once as low as $594 1 ton, the lowest since mid-September. LME Aluminum closed down 0.8% to 1.893 USD/ton, and once fell to 1.890 USD in intraday trading, the lowest since mid-July of 20 17.
In addition, LME zinc futures closed down 1.2% to $2,474/ton. LME lead closed up 1.0% to 1985 USD/ton. LME nickel futures closed up 0. 1% to 10890 USD/ton. LME Tin closed up 0. 1% to 19375 USD/ton.
Coke closed down 1.44% at night, coking coal closed down 0.50% and thermal coal closed down 0.7 1%. Iron ore closed up 0.3 1%. Rubber night plate closed up by 0.27%, while asphalt closed down by 0.07%.
CBOT March corn futures closed down 3/4 cents to $ 3.77-3/4 a bushel. CBOT March wheat futures closed up 2- 1/2 cents to 5. 16- 1/2 USD/bushel. CBOT 65438+ 10 soybean futures closed down 3/4 cents to $8.84 per bushel. Ice monthly raw sugar futures closed up 0.5% to 12.40 cents/pound. Ice monthly sugar futures closed up less than 0. 1% to 337. 10 USD/ton.
The US dollar index fell by 0.5%, hitting a low of 96.37, the lowest in nearly a month; 65438+February 14 hit a one-and-a-half-year high of 97.7438+0.
The euro rose 0.4% against the US dollar to1.1423; Sterling rose 0.2% against the US dollar to a two-week high of1.2674; The USD/JPY fell 0.8% to 1 10.27, a five-week low. The MSCI Emerging Markets Currency Index fell 0. 1% to a one-week low.
At 02:59 Beijing time, the offshore RMB (CNH) was quoted at 6.9034 yuan against the US dollar, which was 160 points higher than last Friday (65438+February 2 1), and the whole intraday trading was in the range of 6.9229-6.8982 yuan.
Onshore RMB against the US dollar (CNY) closed at 6.8984 yuan at 23:30 Beijing time, up 86 points from last Friday (65438+February 2 1). The turnover of the whole day was $35.765 billion, a decrease of11650,000 compared with last Friday.
Bitcoin futures closed above $4000. The February contract of CME bitcoin futures BTC closed up by $295, or about 7.84%, to $4,060, while the monthly contract closed at $365,438+$045 February 14. CBOE bitcoin futures XBT February contract closed up 275 US dollars, or 7.28%, to 4,055 US dollars. On February 14, the monthly contract closed at 3 150 USD.
Us bond yields continued to fall last week, and the decline in us stocks expanded after midday. It is worth noting that the yield of one-year US bonds fell by 3.7 1 basis point to 2.5811%; One-year US debt and two-year yield have been upside down for the first time since June 65438+ 10, 2008.
On Monday (65438+February 24th), the yield of US 10-year benchmark treasury bonds fell by 5. 19 basis points to 2.7383%, the lowest since April 2nd. 1On October 9th, it rose to 3.2594% 20 1 1, the highest in the session since May 4th. The yield of 30-year US Treasury bonds fell by 3.73 basis points to 2.9934%, and1October 2 1 14 rose to 3.4647%, the highest level since July 7, 2065438.
The yield of two-year US bonds fell by 7.96 basis points to 2.5593%, the lowest since July 9. 1October 8th 165438+ rose to 2.9732%, approaching the highest of 2.9966% on June 25th, 2008. The yield of five-year US bonds fell by 5.93 basis points to 2.5793%, and fell to 2.573% in intraday trading, the lowest since May 30.
The US Treasury auctioned 40 billion US dollars of two-year treasury bonds on Monday, and the winning bid rate was 2.6 19%, the lowest since June this year. The bid multiple is 2.3 1, the lowest since 65438+ in February 2008, and the previous bid was 2.65. Zerohedge, a financial blog, believes that the high probability of rising US bond prices (causing a "flash crash" in yield) is related to short covering, otherwise the lowest bid multiple since 65438+February 2008 represents the sluggish market allocation demand and will not drag down the yield of short-term bonds.