U.S. stocks rebounded: Five tech giants led tech stocks to retaliatory gains across the board

In the face of the increasingly serious epidemic, the United States finally announced today that the country has entered a state of emergency and will fully respond to the new coronary pneumonia epidemic, which also boosted investor confidence.

The news prompted a surge in U.S. stocks on Friday, with all three major stock indexes posting their biggest one-day gains since the 2008 financial crisis. As of the close, the Dow rose 1,985.0 points, or 9.36%, to close at 23,185.62 points; the S&P 500 rose 230.38 points, or 9.29%, to close at 2,711.02 points; the Nasdaq Composite It rose 673.07 points, or 9.35%, to close at 7874.88 points.

Judging from the closing of U.S. stocks, the stock prices of various companies, led by the five technology giants Amazon, Apple, Alphabet, Facebook and Microsoft, have all experienced retaliatory rises to varying degrees, and among the five giants, Microsoft has risen the most. rose more than 14%, while Apple was closely behind, up more than 11%.

If you look at the rise of these five giants, more than $400 billion evaporated overnight, and they have recovered in revenge (Alphabet rose 9.4%, Amazon rose 6.46%, Facebook rose 10.23% ).

In addition, China’s major technology stocks rose across the board, NetEase rose 7.49%, iQiyi rose 0.81%, Pinduoduo rose 2.9%, Weibo rose 3.82%, Tencent Music rose 1.06%, Alibaba Baba rose 4.81%, JD.com rose 3.79%, and Qutoutiao rose 0.62%.

Tech stocks were among the hardest hit in the market sell-off yesterday, with investors jittery about the impact on demand and supply chains over the U.S.’s ambiguity about the outbreak, 15 minutes after the market opened. Trading was suspended as the market hit the “circuit breaker” threshold set by U.S. exchanges.

How bad was the US stock market yesterday? The Dow Jones suffered the sixth-biggest drop in its history, according to FactSet. Even the worst one-day drop in the 2008 financial crisis was not as steep.

Of course, there is another factor in the retaliatory rise of the US stock market, that is, the New York Fed announced the launch of a rescue plan of at least 1.22 trillion US dollars. Regarding the performance of Trump’s leadership team, some US media reported that the return of US stocks during Trump’s term fell to 24%, the worst since Bush’s second term.

No matter which metric is used, the current return of U.S. stocks is far behind the 63% increase in former U.S. President Barack Obama’s second term. Of course, the previous presidents have not encountered such a big emergency shock of the epidemic. .

Author: Snowflake

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