Worsening global economic outlook US stocks fell sharply on Thursday

International Energy Newsletter: US stocks opened sharply lower on Thursday due to unfavorable factors such as the US consumer price index rose by 0.5% over the previous month, higher than expected. Morgan Stanley and Goldman Sachs cut global economic growth expectations and caused investors’ worries about the economic collapse in Europe and the United States. This triggered US stocks to dive. The intraday Dow had fallen by nearly 528 points, and then the three major stock indexes stabilized and rose slightly in the late afternoon. , but still report with a big drop.

As of the close, the Dow Jones Industrial Average fell 419.63 points, to 10,990.58 points, or 3.68%; the Nasdaq Composite Index fell 131.05 points, to 2,380.43 points, or 5.22%; the Standard & Poor's 500 Index fell 53.24 points. 1,140.65 points, a decrease of 4.46%.

As investment concerns about economic expectations and the recent continuous fall in the stock market, large amounts of funds have fled risky assets into relatively safe US Treasuries and gold, resulting in a sharp rise in US Treasuries and gold. The price of US Treasury bonds soared today, causing the yield on 10-year Treasury bonds to fall. It once fell to 1.99%, breaking the historical record of 2.03% set on August 9. The price of New York gold bullion rose on Thursday to close at $ 1,822 per ounce, setting a record high for the third consecutive trading day.

On the macroeconomic side, the Philadelphia Federal Reserve issued a report on Thursday (18th) saying that the industrial and commercial production activities in the Mid-Atlantic states contracted sharply in August. The Philadelphia Fed manufacturing index for August was -30.7 points. A negative value of this indicator indicates a shrinking production, while a positive value indicates an expansion of production. The report made the outlook for the US economic activity in the third quarter unpredictable. According to a Bloomberg survey, economists have an average of 4.0 points. The Philadelphia Fed index for July was 3.2 points. In the Philadelphia Federal Reserve Bank report, other sub-indexes in the Mid-Atlantic states also fell in August. The new orders index fell to -26.8 from July, while the shipping index fell to -13.9 from July 4.3. Another important indicator, the commission price index, also turned negative, falling from 8.9 in July to the current -5.2. On the other hand, price pressure eased. In August, the Philadelphia Fed price index fell from 25.1 in July to 12.8, while the price acceptance index fell from 1.1 in July to -9.0. At the same time, the expected future industrial and commercial prospects for the next six months jumped to 23.7 in July and fell again in August to 1.4.

The U.S. Labor Department announced on Thursday that the number of jobless claims for the first time last week increased by 9,000 to 408,000, which was higher than the average 400,000 economists had expected. The number of first-time jobless claims this week was revised from 395,000 to 399,000. The four-week moving average of this data has dropped by 3,500 to 40,255,000. Due to the small fluctuations in this data, it is often seen as a better indicator of the basic conditions of the labor market. In the week ending August 6, the number of people receiving unemployment benefits continued to increase by 7,000 to 3.7 million. In the week ending July 30, the number of people receiving various types of unemployment benefits in the United States was 7.34 million, a decrease of 144,000 from the previous week.

The U.S. Department of Labor also stated that in July the consumer price index (CPI) rose by 0.5% month-on-month, which was higher than the average economist expectation of 0.4%; excluding volatile food and fuel, the core consumer price index rose by 0.2%. Expected match. The monthly living expenses rose by 0.3% month-on-month, the highest increase since June 2008; in addition, energy prices rose by 2.8%; food prices rose by 0.4%; apparel prices rose by 1.2%.

The rating agency Standard & Poor’s downgraded the economic growth rate of the United States for the next three years, including the economic growth rate of the third quarter and the fourth quarter of this year to 1.9% and 1.8%, and the annual growth rate is expected to decrease from 2.4% to 1.7% in 2012. And in 2013, the economic growth rate will be lowered to 2% and 2.1%, and the probability that the US economy will fall into recession next year will be raised from 30% predicted in June to 35%.

Investment bank Morgan Stanley issued a report today, saying that due to the slow progress in the resolution of the European sovereign debt crisis, market sentiment has weakened and global economic growth expectations have been lowered. The report predicts that the global economic growth in 2011 will be 3.9%, which is lower than its previous forecast of 4.2%; and the global economic growth forecast for 2012 will be reduced from the previous 4.5% to 3.8%.

All sectors in the sector and individual stocks tumbled, with industrial sectors (down 5.73%) and technology sectors (down 5.34%) falling the most.

For individual stocks, ConocoPhillips (COP) fell by 4.53%, Exxon Mobil (XOM) fell by 4.340, AIG (AIG) fell by 8.65%, Citigroup (C) fell by 6.26%, and Technology Corp. (Google). GOOG) fell 5.91%, and Apple (AAPL) fell 3.78%.

The Chinese concept stock Tudou (Nasdaq: TUDO), which landed on the Nasdaq at a price of US$29 yesterday, continued to fall sharply. It ended the day with a fall of US$4.75, a decrease of 18.58% to US$20.81.

Consol Energy, a coal and natural gas producer in the US, announced today that it has agreed to sell half of its shale gas field in the Marcellus region of the United States to Noble Energy for about $3.4 billion. 350 acres of undeveloped gas field. Consol Energy stated that it plans to increase the number of gas wells in the region to 16 by 2015, and this transaction will not affect its target of producing 350 billion feet by 2015.

US retailer Sears Holdings announced today that it had lost $144 million in the second quarter (as of July 30), a loss of $1.37 per share; the company had a loss of $39 million, or a loss per share, in the same period last year. 35 cents; Excluding the impact of one-time projects, Sears quarterly loss of 1.13 US dollars per share, higher than analysts had previously forecast 64 cents. The quarterly revenue was US$10.33 billion, which was a year-on-year decline of 1%, slightly higher than analysts' average expectations.

On the external market, the European stock market recorded the largest one-day decline in more than two-and-a-half years on Thursday (18th), as a series of data has given the US economic recovery more gloom.

The German stock market plunged by 5.8%, and its performance lags behind other markets. Traders said that it is affected by the ban on short-selling financial stocks in other European countries and investors are increasingly concerned that policymakers lack plans to resolve the debt crisis in the euro zone.

European bank stocks that have exposure to the European debt crisis fell by 6.7%. Since the beginning of the year, the cumulative number of major bank stocks has fallen by 29.8%. Barclays and France’s Societe Generale plunged 11.5% and 12.3% respectively. German commercial banks have fallen by 10.5. %.

The FTSEurofirst 300 index of the pan-European stocks index fell 4.8% to 925.19 points, recording the largest one-day drop since March 2009. The trading volume was more than 24% above the index's 90-day average.

The FTSEurofirst 300 index of the Pan-European Benchmark stocks fell more than 22% from its mid-February high.

Auto stocks fell 7.4%, the biggest decline, fearing that the global economic slowdown will hurt car demand, Fiat fell 11.9%. It was previously reported that Fiat’s key market is disappointing in car sales in Brazil, Germany’s MAN and BMW. The car dropped by 10% and 7.9% respectively.

The FTSE 100 index fell 239.37 points, or 4.49%, to close at 5092.23 points; the German stock market's DAX index plummeted 346.14 points, or 5.82%, to 5,602.80 points; Paris CAC40 stock index fell 178.30 points, or 5.48 points. %, to close at 3076.04 points.

Commodities were affected by the expected drop in global economic growth. Gold climbed sharply, while crude oil plummeted.

The price of gold for delivery on the New York Mercantile Exchange (NYMEX) in December rose by $28.20 to close at $1822 per ounce, or 1.6%, and it continued to set the highest closing price in history.

The price of light crude oil for September delivery fell by US$5.20 to settle at US$82.38 per barrel, a decrease of 5.9%.