1928: The rise of giant merchants

Early next morning.

A real orgasmic explosion.

The darkest day has arrived.

At nine o'clock in the morning, the New York Stock Exchange had just opened, and violent selling was overwhelming. Everyone was selling regardless of the price. Brokers were surrounded and the trading floor was in chaos.

Rumors abound in the market - most of them false.

Some say that the giants on Wall Street are all short-selling, some say that some desperate plans are being brewed, some say that a new short-selling attack is coming, and so on.

It is impossible to tell whether these rumors are true or false, and the origin is unknown, but what is certain is that these rumors are all exaggerating the power of short selling and forcing the market to move towards collapse.

Someone is deliberately creating public opinion and causing panic to sweep across the New York Stock Exchange and even the United States.

On Tuesday, many celebrities from all walks of life who are rarely seen arrived at the New York Stock Exchange. They also held a large number of high-priced stocks. Obviously, the market situation no longer allowed them to continue to hold positions and lose money.

Big selling by these people fuels panic and herding.

The sell orders poured in like an avalanche without a break, and everyone from the dishwasher to the banker seemed to be selling desperately.

Some sell orders are actually involuntary. Investors are subject to margin calls and have to endure the pain to cash out.

The White House and the Treasury Department finally decided to temporarily increase margin calls, hoping to use this last resort to save the last face of U.S. stocks.

However, this move directly became the trigger of panic.

The selling wave could no longer stop.

Everyone knows that the U.S. stock market is doomed.

This morning's "New York Times" had this ironic quote about the stock market: "Those investors who have always been cautious can now buy stocks with confidence."

However, the entertainment industry publication "Prosperity" won immortal status in the history of journalism because of its headline of the day: "Wall Street Takes a Big Tumble."

The calm and rational "Business and Financial Chronicle" said on the headline: "This week, people across the United States unfortunately witnessed the largest stock market crash in history."

Various newspapers and magazines used the plummeting US stock market as headlines to attract public attention.

The Dow Jones Index plummeted. So far, the stock price index has dropped from its highest point of 390 points to 112.58 points, a drop of more than 70%. The New York Times Index fell another 41 points today.

At noon, President Hoover delivered a depressing speech at the White House.

"Prosperity is not just a bunch of economic data, but a state of mind - the unrealistic expansion of companies has been very serious, and the widening gap between rich and poor has been covered up by the bull market. The big bull market is not only the peak of the business cycle, It is also the pinnacle of the cycle of American thought and emotion. At this point, I have to admit that America’s prosperity has come to an end, and a boiling era has ended.”

This has almost determined the life and death of U.S. stocks.

Hoover's frustration also spread to the entire White House hierarchy. The Treasury Department was in a state of collapse, and no one was willing to come out to rescue the market.

Ruining it was the only way anyone could think of.

The newly established bailout fund declared bankruptcy after investing US$240 million. The money did not make a splash and basically went into Ye Luo's pocket.

The six major investment banks remained silent. Richard, the president of the New York Stock Exchange who flew to Italy for refuge, looked at the result and remained silent.

The worst thing is that the big bosses and shareholders of well-known first-tier companies such as American Pharmaceuticals have seen their assets shrink severely, with some evaporating nearly 60% in an instant!

At this time, they approached Ye Luo again, hoping to sell their shares for US$5 million, but they were rejected one by one.

Ye Luo wanted the equipment and technology from these companies, but was unwilling to be taken advantage of.

Anyone with a discerning eye can see that these high-priced stocks are still falling. Wouldn't it be better to wait until they hit rock bottom before buying them?

This behavior will anger many plutocrats in the United States, but they personally ruined the opportunity to stop losses, and Ye Luo will not tolerate them.

If you want to play, everyone must play to the end.

At the close of trading today, the official statistics provided by the New York Stock Exchange were 16,410,030 shares.

16.41 million shares!

The historical single-day trading volume of the New York Stock Exchange and even the world's stock exchanges to date.

The trading volume on a normal day is generally 6 million shares. Once compared, it can be seen how panicked the market is.

But no one believes that the real trading volume is only this small.

In the trading floor of the New York Stock Exchange, there were many unrecorded transactions that were sold out amid shouting and screaming. The real trading volume may be as high as 20 million or even 25 million shares!

Large investors and small investors, traders on the market and traders on the OTC market, and those chasing the rise in the bull market all lost their money!

The former millionaire and his personal driver, the all-powerful mutual fund operator and his lackey, the chairman with 2,000 shares and his bookkeeper with 10 shares, the bank president and his stenographer.

No matter who he is or what his status is, he is a leek in the eyes of the big bears today.

American Telephone Company and General Electric Company each fell by $58, Westinghouse Company fell by $19, United Chemical Company fell by $35, and North American Company plummeted by $127, delisting directly!

Auburn $60, Columbia Carbon Black $38.75

High-priced stocks that were once hailed as cash cows have become minefields that speculators avoid.

"This is the worst day in the 112-year history of the New York Stock Exchange. It's really terrible." The face of the new trading minister was full of despair.

No one wants to face this kind of desperate situation after being promoted.

Even Gwen, who had just taken office, realized that the atmosphere today was somewhat different.

Therefore, she admired Ye Luo even more.

Because this man has been short selling with a large amount of funds since many days ago.

At this time, the short seller is naturally the final winner.

How much money is there in his account?

No one knows.

One secret message after another came from everywhere.

The Republic of China has exploded.

The paper couldn't contain the anger, and I learned that a large group of people under his command had secretly invested a large amount of wealth into the US stock market, and were tricked.

The principal was so angry that his beard grew crooked. He issued more than a dozen decrees in the Jinling office, requiring administrative heads in various places to rectify discipline and strictly check the funding situation.

All the military and political dignitaries who participated in this U.S. stock investment were all listed and secretly sent to his office.

Dai Li's spring is here.

He didn't expect that he would be useful so quickly.

The Intelligence Bureau handled these cases quickly, and one name after another was added to the list, and the amount of money involved was shocking.

Dai Li was very satisfied with the result.

Although the U.S. stock market crash seemed to have ruined many people and also affected the Republic of China, it was a good thing for him.

"It's a pity that Ye Luo ran away again." Dai Li looked at the list with a sense of sadness.

Why is this kid so lucky? Every time a critical moment comes, he can always find a way to escape unscathed.

Although he initiated the U.S. stock investment this time, Ye Luo withdrew long before the crash and asked others to retreat as well.

It was those people who were too greedy, which led to huge losses in the end.

Ye Luo couldn't find this problem.

What's more, Ye Luo has the principal's wife to protect him.

Who dares to touch the madam’s godbrother?