My Fintech Empire

However, just after breaking through the 6700-point mark, it was lost the next day, and then it continued to fall and pull back. A very critical factor was the plunge in magnesium stocks.

On Monday, February 24, the three major stock indexes of northern magnesium opened lower and fell. The Dow Jones Index plunged more than 1,000 points, a sharp drop of -3.56%, directly breaking through 28,000 points and creating a new low for the year. Then the next day it was a sharp drop of -3.15%, and once lost 27,000 points.

On Wednesday, February 26, the Dow Jones Index closed down -0.46%, and the 27,000-point mark was effectively broken, but there was no big negative line like the previous two days. It seemed to have stabilized.

However, on Thursday, February 27, the three major stock indexes of northern magnesium were hit again, and the 26,000-point mark was easily broken. On that day, the Dow Jones Index plummeted -4.42% and closed at 25,766.64 points.

The K-line showed six consecutive negative lines, and it was a continuous big negative line plunge. In just six trading days, the Dow Jones Industrial Average fell by more than 12 percentage points.

…

"The peripheral stock market has fallen very badly recently, especially the North Magnesium Stock Market. The Dow Jones Index fell by more than 5,000 points in just one week." Tian Jiayi, who was with Fang Hong at this time, looked at him and said that the severity of the peripheral market surprised her. She didn't expect it to be so tragic.

"Haha, this is just the beginning, just an appetizer." Fang Hong said with a smile: "The Squid Group is going to cut a lot. Watch it. There will definitely be another circuit breaker market later, and it will be a continuous circuit breaker market, which is super doubled than the two major circuit breakers that intended to hunt me last time."

Hearing this, the beautiful assistant was surprised again and couldn't help saying: "Even more tragic than that time? Then the North Magnesium Stock Market will be finished?"

Fang Hong said slowly: "It's not finished. The end of magnesium stocks is about the end of magnesium crickets. Do you think magnesium crickets will be finished so soon? Obviously not that fast, It is definitely tragic, but if you continue to fall, you will die, so you have to hold on. If you don't hold on, you will really die. "

Tian Jiayi thought for a while and said, "But where can we get liquidity to pull the market up? Beimei's strategy of harvesting the wealth of Greater China has completely failed, and looking at the world, there is no other economy that can satisfy its appetite. "

Fang Hong shrugged and said, "Unlimited printing of money, although it is drinking poison to quench thirst, they also know that it is drinking poison to quench thirst, but there is no choice. If they don't drink poison, they will die on the spot. They can only poison themselves first. "

...

The next day, Friday, February 28.

Affected by the continuous plunge in the external market, the A-share market finally stayed in Bengbu, and the panic finally spread to the A-share market.

Today, the three major stock indexes all opened lower, and originally rebounded upward after a sharp opening. As a result, a rumor came out at noon. A source said that large funds were quietly withdrawing, and some people claimed that the super main force of the market protection funds before the Spring Festival was withdrawing.

As soon as the news spread, the rebound came to an abrupt halt, and the market quickly plunged and fell further, reaching a new intraday low.

Judging from the market trend, the market opened low in the morning and fell back, and continued to fall in the afternoon, with the Shenzhen Stock Exchange leading the decline. First, the market increased in volume to lure more investors, and then the market plunged in volume to trap investors, resulting in a large-scale plunge in the A-share market with a turnover of 2 trillion yuan today. Theme stocks fell across the board, and micro-cap stocks became the hardest hit area.

The concept of masks is leading the three major markets. Today, only this sector has a profit effect, and other places are basically eating noodles.

More than 5,000 stocks in the two markets fell, almost all of them were wiped out, and the median of the rise and fall of individual stocks was -6.17%. The two markets next door staged a situation where thousands of stocks fell to the limit, and the number of stocks that fell to the limit in the SGX market also reached more than 100.

The SGX market is also more resilient, and it is obviously more resistant to decline than the two markets next door.

As of the close, the three major stock indexes all fell, with a sharp drop of -1.89% to 6519.51 points; the Shanghai Composite Index plummeted -3.71% to 2880.30 points; the Shenzhen Component Index plummeted -4.80% to 10980.77 points.

The entire market trend was like a roller coaster, which was dazzling. It was originally thought that the A-share market could be immune to the impact, but it did not expect a sharp drop today, which caught many investors off guard.

For a time, the mood of stockholders also fluctuated, and they were worried about the changes in the market.

In the evening, the North Magnesium Stock Market opened and staged a sharp drop again. The Dow Jones Index once plummeted by more than 4 percentage points during the session, and the 25,000-point mark was easily broken, but it rose all the way in the late trading and finally closed at -1.39.

…

During the weekend, the black swan incident continued to ferment. It ended at the end of February and basically conquered the world. The number of people infected has exceeded 100,000, but more than 85% are abroad.

The poor response of various places overseas surprised countless people in China. Many public intellectuals attacked the mainland for its incompetence in dealing with masks, and threatened that if this happened abroad, it would never be like this.

Are you stupid now?

Dongda is the top student in the class. The others are not the worst, but even worse.

This made countless public intellectuals very angry. They didn't know how to make up for it, so they had to play dead, like ostriches. Now if those public intellectuals dare to show their heads, they will definitely be killed by the majority of netizens.

After the weekend, on Monday, March 2, the A-share market opened and ushered in a good start in March.

After the plunge last Friday, today's rebound was staged directly.

Today, there are two major positive factors for the A-share market. One is the launch of a 25 trillion yuan key infrastructure project, and the other is the official implementation of the new securities law on March 1.

As soon as the market opened, large infrastructure, industrial Internet, 5G, and new energy vehicles were launched one after another, especially the large infrastructure sector, which exploded and staged a daily limit. The Shenwan Building Materials Index soared by more than +8%. In addition, stimulated by the new issuance of securities, the trend of the non-bank financial sector was also strong.

The Shanghai and Shenzhen stock markets rose by more than 3 percentage points in the morning, and the market heat did not decrease at all in the afternoon. Various industry sectors blossomed in multiple places and closed in the red across the board.

The three major indexes, the New Securities 50 Index, underperformed the Shanghai and Shenzhen stock markets today. Today, the positive news on the positive side is not in the SGX market. These large infrastructure stocks are all in the two neighboring markets, and the decline last Friday was originally less than that of the two neighboring markets.

In fact, the main reason is that the current funds are not enough to pull up the three major trading indexes at the same time. The volume of about 2 trillion is basically the current limit of the A-share market. The funds went to the two neighboring cities, and the SGX market was less.

As of the close, the SGX 50 Index closed up +1.75% at 6633.33 points, with a turnover of 1125.1 billion; the Shanghai Composite Index rose +3.15% to 2970.93 points, with a turnover of 397.2 billion; the Shenzhen Component Index rose +3.65% to 11381.76 points, with a turnover of 632.1 billion, and the three major trading markets had a total turnover of 2154.4 billion.

In the evening, the Beijing Stock Exchange opened. After a continuous sharp drop, it also ushered in a retaliatory rebound today. The Dow Jones Index once rose by 1,300 points, almost closing with a bald positive, and closed more than 5 percentage points higher that day.

Various institutions have interpreted the market at the first time. Considering that the market heat and the money-making effect have not been confirmed to disappear, the rapid decline of overseas risky assets may also be coming to an end.

The equity market can be viewed positively and optimistically in the future. Now, a very clear focus on the policy is "new infrastructure", which can not only hedge the current economic decline caused by the impact of black swan events, support the economy, but also contribute to the further transformation of the economic structure.

The pace of entry of incremental funds in the OTC market is still very fast, and it continues to provide financial support for the main line of technological growth.

In short, it will continue to rise in the future.

... (End of this chapter)