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Transfer from: China Securities Journal
On Tuesday, US Eastern Time, investors believed that the banking crisis in Silicon Valley had been brought under control. In addition, the inflation data in February was fully in line with expectations. The three major indexes of US stocks all ended up more than 1% and the Nasdaq rose more than 2%.
The shares of regional banks rose sharply collectively. The First Republic Bank rose 27% at the close and exceeded 63% at one time in the session; west the pacific ocean United Bank closed up nearly 34%, up 77% at the highest point in the session; Alines West Bank closed 14% higher, the highest intraday increase of 53%. These three banks have been blown out for many times due to large fluctuations.
On the 14th local time, The Russian Ministry of Defense issued a statement on the discovery of US drones over the Black Sea waters that day. The statement pointed out that Russian fighter planes did not use airborne weapons, did not contact with UAVs, and returned to the airport safely.
According to media reports, recently it was reported that "Huawei has developed a chip stacking technology scheme, which can better meet the challenges of chip size and performance, and improve the overall performance and reliability of the chip". Huawei refuted the rumor that, This news is a rumor, which imitates the official of Huawei.
Three major stock indexes of US stocks closed higher
The First Republic Bank made the biggest single day increase
On March 14 local time, the three major indexes of the US stock market closed higher. As of the closing, the Dow rose 1.06% to 32155.4 points, the S&P 500 rose 1.68% to 3920.56 points, and the Nasdaq rose 2.14% to 11428.15 points.
Source: Wind Technology stocks rose across the board, with Apple up 1.41%, Amazon up 2.65%, Naifei up 0.49%, Google up 3.14%, Facebook up 7.25%, and Microsoft up 2.71%.
Banking stocks performed strongly, with JPMorgan Chase up 2.58%, Goldman Sachs up 2.06%, Citigroup up 5.86%, Morgan Stanley up 2.24%, Bank of America up 0.88%, and Wells Fargo up 4.58%.
Regional banking stocks rose collectively, with the First Republic Bank up 27.84%, the largest single day increase; Alines Western Bank rose 14.17%, Unicom Bank rose 3.59%, and Zion Bank rose 4.47%.
Most popular Chinese concept stocks rose. The NASDAQ China Golden Dragon Index rose 0.62%, Alibaba rose 1.15%, JD rose 0.82%, Pinduoduo rose 1.71%, Bilibili rose 1.90%, Baidu rose 2.28%, New Oriental fell 3.47%, Netease rose 1.84%, Tencent Music rose 1.84%, iQiyi rose 0.14%, and TAL fell 10%.
International oil prices fell across the board. The April contract of US oil fell 4.44% to 71.48 US dollars/barrel. The contract for oil distribution in May fell 4.04% to US $77.51 per barrel. The Organization of Petroleum Exporting Countries (OPEC) said in its monthly oil report on March 14 that due to the seasonal downturn in demand, the global oil market may experience a slight oversupply in the next quarter, and lowered the global crude oil demand forecast by 200000 barrels per day in 2023.
Bank of America "Avalanche" Two Parties Accuse Each Other
According to Xinhua News Agency, bank closures have occurred in the United States in recent days, triggering market shocks and panic. President Biden made a speech on the 13th to reassure people, while blaming investors and the old opposition Republican Party.
"The investors in these banks will not be protected." Biden said, "They take the risk on their own initiative, and when the risk does not return, these investors will suffer losses. This is the way capitalism works.".
Biden stressed that when he was Vice President and Obama was President, the United States passed legislation to strengthen the supervision of the banking industry to ensure that a similar financial crisis in 2008 would not occur, However, the Republican President Trump relaxed the supervision after he came into power.
Biden refers to the Dodd Frank Wall Street Reform and Consumer Protection Act. During Trump's administration, the Republicans promoted the amendment of this law, raised the criteria for identifying systemic risks in banks, and classified banks with assets of more than $250 billion as subject to stricter supervision, far higher than the previous "threshold" of $50 billion. As of the end of last year, the recently closed Silicon Valley Bank and Signature Bank had assets of $209 billion and $110 billion respectively.
Biden said that he would be held accountable for the bank closure, and would also require Congress and regulators to introduce stricter regulations to prevent similar incidents from happening again.
Republicans and Trump pointed the blame of this crisis at Democrats. Trump's spokesman said in a statement to Fox News Channel that "under the leadership of Biden, the economy is a disaster".
Trump, who has announced his participation in next year's presidential election, warned on the social platform that the United States would experience a recession worse than the Great Depression of the last century. "The evidence is that the banking industry has begun to collapse".
An American UAV crashed in the Black Sea
According to Xinhua News Agency, the Russian Ministry of Defense issued a statement on its official website on the evening of the 14th, An MQ-9 unmanned aerial vehicle in the United States crashed into the Black Sea that day after losing control due to intense air maneuvers.
The Russian Ministry of Defense said that earlier on the 14th, the Russian sky army found a US MQ-9 UAV over the Black Sea waters around the Crimea Peninsula. At that time, the UAV was flying towards the Russian border, and the transponder on the aircraft was closed. The Russian air force's on duty fighter lifted off to identify the aircraft invading the airspace. The UAV lost control due to violent maneuvers, lost its altitude rapidly and fell into the water. The Russian fighter did not use airborne weapons, did not contact the US UAV, and returned to the airport safely.
The US European Command said in a statement on the 14th that a US MQ-9 UAV was intercepted by two Russian Su-27 fighters over the Black Sea that day. One of the fighters hit the propeller of the UAV, forcing the US military to crash the UAV into the Black Sea waters. Before the impact, two Su-27s had "repeatedly dumped fuel into the US UAV and flew in front of it".
The National Security Council Strategic Communications Coordinator Kirby told the media that the National Security Affairs Assistant Sullivan of the US President had reported the incident to President Biden earlier that day, and the US State Department would express its concern about the incident to the Russian side. Kirby said that Russian fighter planes intercepted American aircraft in recent weeks, but this was the first time that an American drone crashed.
Apple will reduce the frequency of bonus payment for some employees
And expand the scope of frozen recruitment
According to media reports, Apple delayed the bonus payment of some departments, increased cost cutting efforts, joined the ranks of its Silicon Valley peers, and tried to streamline operations in uncertain times. The person said that this change would reduce the frequency of bonus payments for some Apple employees. In addition, the company has frozen the recruitment of more positions and left additional vacant positions when employees leave.
In the past, different departments of Apple would pay one or two bonuses and get one or two promotion opportunities every year, usually in April and October. However, according to the new plan, departments that pay bonuses and promotion opportunities twice a year will not receive bonuses or promotions next month, and all departments will adjust according to the annual plan, and only pay bonuses in October.
Editor: Song Zhaoqing, Wang Yin
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