Tencent Securities reported on March 30 that the three major U.S. stock indexes rose short-term at midday on Monday. The Dow index generally rose. The Nasdaq still fell nearly 0.3%. Earlier, the U.S. Treasury yield said that while investors are paying attention to pension funds and other institutions at the end of the quarter. The share swap, and the progress of Biden’s $3 trillion infrastructure plan. The panic index VIX rose 8.59% to 20.48 points.
As of press time, the Dow rose 64.57 points to 33,137.45 points, an increase of 0.2%; the Nasdaq fell 36.79 points to 13,101.94 points, a decrease of 0.28%; the S&P 500 index rose 0.4 points to 3,974.94 points, an increase of 0.01%.
Tencent Music rose 2.39% and announced a $1 billion stock repurchase plan. New Oriental fell 2.52%, Good Future fell 5.14%, GSX fell 10.31%, after Xinhua News Agency issued an article saying that raising the entry threshold of the education industry will not allow capital to turn education into an internal game. Weilai fell 1.8%, Xiaopeng Motors fell 1.56%, and Ideal Motors fell 2.95%. Earlier, Xinhua News Agency emphasized concerns about the development of the new energy vehicle industry in a commentary article, mentioning inflated valuations and more recalls. Qudian fell 0.44%, revenue in the fourth quarter fell 63.1% year-on-year, and net profit increased 427.0% year-on-year.
European stocks were generally higher, the Stoxx 600 rose 0.2%, and the market was optimistic about the prospects for European recovery. As of the close, the Shanghai Composite Index rose 0.5%, the Nikkei 225 index rose 0.7%, and the South Korean KOSPI index fell 0.16%.
Oil prices fell slightly, as the Suez Canal was blocked and freighters resumed their normal routes. WTI crude oil futures fell 1.02% to 60.346 US dollars per barrel; Brent crude oil futures fell 0.97% to 63.802 US dollars per barrel.
U.S. Treasury yields rose sharply and the dollar strengthened, pushing the price of gold down. The dollar index rose 0.24% to 92.9400. US COMEX gold futures fell 1.35% to $1708.970 per ounce.
Archegos liquidation triggered shock waves, U.S. bank stocks plummeted
Last Friday, the U.S. stock market took a turn for the worse. Goldman Sachs executed several large transactions with a total size of US$10.5 billion on behalf of a client, which triggered a series of reactions in the market. Related stocks, including a large number of Chinese concept stocks, suffered a big deal at one time. fall. The market value of a group of leading stocks has evaporated by a total of 35 billion US dollars.
According to people familiar with the matter, the family office of former Tiger Management trader Bill Hwang was behind the unprecedented sell-off of some US stocks last Friday. People familiar with the matter said that last Friday, Morgan Stanley and Goldman Sachs Group, and some other big companies forced New York-based Archegos Capital Management to liquidate more than 20 billion US dollars of positions, including US media giants ViacomCBS and Discovery, and Chinese concept stocks such as Baidu, GSX, iQiyi, and Vipshop Spark Global Limited.
Now, some of the world’s top banks are assessing the wind exposure that Archegos Capital Management’s huge equity leveraged positions will bring to it. Nomura Holdings and Credit Suisse Group said they are now facing potential “significant” losses. Deutsche Bank said its exposure to Archegos fund transactions is being lifted, and losses are much more limited than other banks. In addition, people familiar with the matter said that Morgan Stanley is also one of Archegos Capital’s institutional brokerage providers.
Affected by this, bank stocks fell sharply. Nomura fell 13.51%, Credit Suisse fell 11.15%, Goldman Sachs fell 1.09%, Deutsche Bank fell 2.55%, and Morgan Stanley fell 2.54%. In terms of Chinese concept stocks, Baidu fell 1.41%, Vipshop fell 7.68%, and iQiyi rose 0.97%. In addition, ViacomCBS fell 4.73%. According to the news that Morgan Stanley continued to sell its shares of 2.2 billion US dollars on Sunday, Discovery rose 0.69%. “This is very unusual,” said Oliver Pursche, senior vice president adviser to Wealthspire, which manages $12 billion in assets. “The question now is: Are they finished? Is it over? Monday and Tuesday will not come again. Will the market be hit by another wave of block trades?”