Chapter 325 Black Monday (2)
In just half a day, except for a few people such as Jing Jian, who could still sit firmly on Diaoyutai, the entire securities market has become chaotic. In fact, the American managers are not helpless about the abnormal panic in the market.
During the morning meeting that day, the Federal Reserve team and the governors of central banks in various places were somewhat alert to the situation. During the meeting, they discussed emergency measures such as lowering interest rates and injecting liquidity. However, due to the calmness of the media, many people thought that the danger would not come soon, or there would not be a big pullback.
At 7:30 before the opening, John Film, chairman of the New York Stock Exchange, received a report from the on-duty staff of the Marketing Department: "The number of shares is nearly 100 million, and it is basically a sell order. I have never seen so many sell orders in my life, and it seems that no one in the whole world is buying!"
So half an hour before the opening, Film made a quick decision and immediately asked the dozen largest securities companies on Wall Street to hold a meeting. They had actually foreseen the market to plummet, so they discussed whether to close the market? In the end, the two evils were the least, and they decided unanimously - insist on opening the market!
With the plunge after the market opening, when it was approaching noon, the index rebounded and even rebounded to 2100 points when it was approaching the important psychological threshold of 2000 points. Everyone breathed a sigh of relief.
However, at 13:09 pm, SEC President David Luther was interviewed by reporters in Washington and delivered a very tactful speech: "At a critical moment, although we don't know when this critical moment will be at, I will discuss with the stock exchange the temporary market closure to deal with the issue of imbalance in trading orders."
Unexpectedly, the tactful words immediately turned into a "blockbuster", and the stock market, which had just appeared with a trace of vitality, immediately showed a crazy selling craze! Then, the "stabilizing needle" of the US stock market - super large institutions, also took action. Pension funds, mutual aid funds, insurance funds and other institutional investors also joined the ranks of crazy selling. The Dow Jones Industrial Average Index was like a demon.
From then on, a new term appeared in the stock market - flash crash!
By 2:00 p.m., it had fallen by more than 200 points, with stocks turning over 400 million shares, but the computer was 100 minutes behind the actual trading speed. During this period, the US Securities and Exchange Commission hurriedly came forward to clarify: "They did not discuss the closure of the exchange." However, it was too late and the disaster could no longer be stopped.
At this time, there was only more than an hour left before the closing, but in this short and long hour, the Dow Jones Industrial Average fell by nearly 300 points again in this seemingly solidified air, and 200 million shares were changed. It was not until the closing of the afternoon that the "high-level dive" was forced to stop.
At the close of the day, the Dow Jones Industrial Average fell by 508.32 points, from 2246.72 points to 1738.470 points, a drop of more than 20%, and became the decline champion of the US stock market. If the abstract index is converted into currency, the market evaporated by US$500 billion in this wave of stock market crash. This amount is almost one-eighth of the US GDP that year, and even exceeds France's GDP.
Ridiculously, due to the lagging operation of the computer system, about 28% of the instructions failed to be executed, including the 92 million price limit order. Many investors, especially small and medium-sized investors, did not know that their stocks were not sold until two or three days later. In addition, due to changes in stock prices, the US government bond market was also in chaos. Due to the influence of computers, news organizations reported the closing price of the stock market five and a half hours after the closing.
...
After school, Zhao Xia walked towards the parking lot, and people kept pointing at them around, making Zhao Xia more and more afraid. She leaned behind Jing Jian and held Jing Jian's arm tightly. Finally, she couldn't help but feel curious and asked in a low voice: "What are they doing?"
"Haha, I envy our talented and beautiful women." Jing Jian joked.
Mills suddenly appeared mysteriously with his girlfriend and gave her thumbs up: "Bramble, good!"
Jing Jian waved his hand and smiled. As a member of ULCA, these students felt somewhat proud. Of course, that kind of envy is indispensable, because those who know him understand understand that Jing Jian may have really made at least 100 million US dollars.
And Zhao Xia finally realized: "Little kid, are you making money in the stock market? How much did you make?"
"Haha, there are a lot. I'll find a restaurant later and it will be corrupted today."
"Save some food, there are still food at home."
"You are asked to find a servant, but you still refuse. Your man is not bad at all. Go to a restaurant or a Chinese restaurant to have a tooth sacrificial ceremony. Olive oil and salad oil every day. Is this life still a human being?"
Jing Jian was not willing to tell how much he had made. First, it was not settled yet; second, it was afraid that he would scare Zhao Xia. Although Zhao Xia was now a little numb to Jing Jian's wealth.
Due to the 1:8 leverage and the set 30% take-profit point, Jing Jianguang's profit in the US market will exceed 500 million, plus more than 200 million of the principal. Optimistically, the final fund can reach 700 million or 800 million US dollars.
When I arrived at the parking lot, I saw several reporters surrounding me: "Mr. Bramble, what do you think of today's stock market crash?"
"Mr. Branbull, do you predict that the US economy will enter the Great Depression in the future?"
"Mr. Branbull, have you achieved your goal of making 100 million this time? Are you already a billionaire?"
“Are you the first billionaire in Red China?”
"Mr. Branbull, do you have anything to say to those who have refuted your views before?"
“…”
After finally squeezing to his car and opening the door, Jing Jian finally spoke: "I think I have tried my best to warn you and hope every investor will be lucky. But for those who have commented on me before, I want to say a few words, sorry, I am really not targeting one of you? I just want to say, you are all trash!"
Jing Jian is not a person who is willing to swallow his temper. Since those people were siege before, they now have the opportunity to slap them in the face, so of course they will not let it go. This "famous quote" in Stephen Chow's movies in his previous life is extremely exquisite. Moreover, the moral integrity of these financial critics is too bad. They manipulate public opinion. The small and medium-sized investors in the United States are really pitiful.
...
Watching Jing Jian drive away, the reporters couldn't suppress the excitement in their hearts. Finally, someone said: "Wow! Now that it's all over Wall Street."
"Huh? Do you think about it, how many people did this Chinese boy offend?"
"Wall Street, the movie circle, the computer IT circle, and Colin and the others?"
"God!"
Chapter completed!