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Who is the driving force behind the US stock market crash?
Who owns the American stock market?
The three major pension institutions in the United States are the natural bookmakers of American stocks, and it is these three giants that have made the long-term stability of American stocks. Therefore, every time there is a trouble in the US stock market, American politicians will come out to shout, because it is related to the well-being of the American people, so shouting is absolutely "politically correct."
American stocks are related to the well-being of the American people, and shorting American stocks means shorting American welfare. So, does anyone dare to touch grandpa Longlin?
Theoretically, as long as there is profit, people will covet it. Prohibiting short selling is nothing but a moral kidnapping in the eyes of investors, but few people really have the ability to short US stocks.
Shorting is an ability.
Short selling is an ability. You can go short without money. You know, after years of ups and downs in the stock market, only really high-level experts can short, and high-level experts generally follow suit. If you want to make a game, it means going against the trend. Reversing the trend is not only more difficult than going to heaven, but also because shorting must be achieved through futures. Once you do, the price you pay is bankruptcy. So high-level experts follow suit, and no one will be stupid enough to risk bankruptcy, because they can already make a lot of money by following suit.
I don't believe that conspiracy theories are wisdom. Those who can short US stocks can sweep 90% of the world's wealth into their own hands.
Buffett is bearish or not.
Buffett was praised again this time, shorting a lot of chips in the high position of US stocks, leaving nearly $200 billion in cash. You know, the American stock market was in a good situation at that time. At that time, the American stock market had achieved a breakthrough and was about to walk out of the big bull market in Ma Pingchuan. Buffett, on the other hand, chose a firm bearish attitude, which is really high.
Buffett's bearish logic, the whole world will think that at that time, the world's major stock indexes have entered a bear market, and US stocks can't be immune.
Why Buffett is short is mainly because Buffett never uses futures indexes to make money and avoid risks. Secondly, shorting the futures index is too risky, and he will lose everything, which is not in line with Buffett's philosophy.
Even Buffett doesn't dare to short, so who is shorting US stocks?
Short-selling US stocks are trend investors, who are behind the fuse of US stocks. When the epidemic came and spread to the whole world, they began to short, and then waited for the wall to fall, and everyone pushed. In the case of emergencies, it can be realized without too much money.
Don't trust little Salman in Saudi Arabia to control the situation.
1Salman Jr., the Saudi Crown Prince born in 1985, was described by conspiracy theorists as the driving force behind the collapse of the US stock market. This young uncle is just showstopper, not a gamer. He has successfully pushed the world to a new energy source. The biggest victim is himself, and the oil aristocrats will gradually withdraw from the historical stage. Typical immortality, such IQ insists on describing him as a player, and I am also drunk.
If you have to find a responsible person, then the high valuation of the US stock market itself is the main reason, and the epidemic is the catalyst. The us authorities need to pay the primary responsibility for the fuse of the us stock market, and the fed bears the secondary responsibility.
Since the subprime mortgage crisis in 2008, the US stock market mistakenly started the "shale gas" revolution. It is precisely because of the shale gas that US stocks soared rapidly after the crisis, and they did not "get badly hurt" in the subprime mortgage crisis.
While thanking the "shale gas" revolution, the US stock market walked out of the downturn and headed for a "bull market"; On one hand, we have to "blame" the shale gas revolution. From a certain point of view, after the shale gas revolution, the US stock market was pushed to an inappropriate height, once rising to more than 29,500 points, which was seriously inconsistent with the actual valuation of the US stock market. It is only a matter of time before the decline, and only a "fuse" is needed.
The outbreak of the epidemic is this "fuse" and "catalyst". The sudden outbreak of the epidemic has caused panic among American investors, and investment confidence has increased sharply. A large number of individual investors and institutional investors have sold their stock market funds, which not only caused insufficient funds in the US stock market, but also caused insufficient liquidity in the US dollar.
In the 1 1 year after the subprime mortgage crisis in 2008, the Federal Reserve adopted various loose monetary policies to support the US stock market, because it knew that the US stock market was the main place for American people to invest, and it was also the place where the world's hot money and Wall Street financial tycoons made money. If US stocks cannot fall, the decline of US stocks means that the wealth of the "rich" will shrink sharply; The decline in the US stock market is bound to transmit bad news to the offline real economy in the United States. At that time, there will be a wave of business closures and employee unemployment.
Therefore, the Fed's loose monetary policy has gone a bit too far. The US stock market should be regulated, but it has become a blind push to the US stock market.
Obviously, the American authorities are mainly responsible for the collapse of the American stock market. 1 1 year, the US authorities acquiesced in the Fed's "hard support" of US stocks. After the epidemic began to show signs of spreading, they mistakenly chose the wrong policy of "giving up epidemic prevention and control and making every effort to ensure American stocks", passively preventing epidemic, and exchanging American people's right to life and health for American stocks.
As a result, what the US authorities did not expect was that the final calculation failed, which failed to guarantee that the US stock market would not fail and missed the best period of epidemic prevention and control. It can be said that "the bamboo basket draws water with a sieve". Therefore, the American authorities must bear the main responsibility.
The collapse of US stocks is a trend, and the policy cannot always ensure that US stocks are at a "high level". The sudden collapse of US stocks under the catalysis of this epidemic also shows that US stocks are fragile and castles in the air with weak foundations.
1 1 The easing policy of the Federal Reserve is an extremely unconfident expression of US stocks, while the negative anti-epidemic policy of the US authorities "slowing down the epidemic and protecting the economy" is even more unconfident expression of the US economy.
As for stock trading, I believe in conspiracy theory, so this topic is very appetizing to me:)
Actually, there are only two. First, the fundamentals of the US economy have been unable to support the continued surge in stock prices. At present, the bull market of US stocks is based on the continuous strengthening of American economic fundamentals. The Dow Jones Industrial Average rose from 6,000 to 29,658, almost exactly five times. However, the performance growth of American companies is restricted by technical conditions and economic laws themselves, and it is impossible to keep up with the pace of stock price rise. The bull market of US stocks has been going on for ten years. Under such circumstances, the higher the stock market, the greater the deviation from the real economy, which means that the bubble will be bigger. Second, the outbreak of the COVID-19 epidemic exceeded expectations. It can be said that the virus is the "needle" that pierces the bubble of the US stock market, which has two meanings. First, the epidemic has become a worldwide epidemic, exceeding market expectations. On the second floor, the White House's initial prediction and preparation for the epidemic were insufficient, which led to the outbreak of COVID-19 in the United States exceeding expectations and had a great negative impact on the American economy. Investors instinctively sell stocks out of the need of hedging, resulting in a sharp decline.
Wall Street is the biggest suspect. After the outbreak of overseas epidemic, European stock markets were the first to plummet, and Wall Street could not be indifferent. Friends who have seen movies such as Wolf and Bear on Wall Street 1 2 will definitely have a lingering fear of Wall Street's plot to manipulate the market for profit, but they will not doubt Wall Street's professionalism and sense of smell in the capital market. In the case that the epidemic has caused a great impact on the Asian and European economies and capital markets, it is impossible for Wall Street not to study and judge the American epidemic and its impact. Moreover, this time, the US stock market plummeted at an unprecedented rate. In just two weeks, there were four fuses, constantly refreshing the history of US stocks. If there were no short-selling forces behind it, would it fall so badly? So who is most likely to do all this, of course, is Wall Street, which is actually not difficult to investigate. It is estimated that the US Securities and Exchange Commission has even started relevant investigations.
Other forces, but it is hard to say who, may be "market synergy." The importance of US stocks to the US economy is self-evident. More than 40% of American household assets are in the capital market. Trump has always been complacent about the continued rise of the stock market during his tenure. That's great. During his tenure, the Dow Jones Industrial Average rose by about 65,438+00,000 points. It's all down this time, and a lot of points have been deducted. Many countries in the world are dissatisfied with American economic hegemony. During Trump's tenure, it was even worse. First, he declared that the United States is dominated by trade protection and conflicts with people everywhere. Gulf countries have paid protection fees for many years. Once the American economy is weak, they engage in quantitative easing and collect wool from all over the world. As the country with the strongest economic strength in the world, it is also the country that borrows the most foreign debts. Americans are far from hardworking, but they live a comfortable life. Commodity prices are low, and oil prices are as cheap as water. Under such circumstances, it is really amazing to take advantage of the Trump administration's insufficient understanding and preparation for the COVID-19 epidemic, seize the opportunity that the US stock market is at a historical high, with a big bubble and high risks, and choose crude oil as a breakthrough to lower the US stock market in one fell swoop.
However, the plunge in US stocks will only have a short-term impact on the US economy. If the plunge can't last, it will further trigger the debt crisis of American enterprises, which is good for the American stock market and equivalent to giving them a high-risk valuation. But will it be that simple? Let's wait and see.
In March 2020, there were four or five stock market crashes in the American stock exchange. In these stock market meltdowns, the behind-the-scenes pusher of shorting or shorting is not necessarily a person or an institution, but may be the disintegration of some financial oligarchs on Wall Street and around the world.
And it is not necessarily the same people behind each monopoly. For example, the American media recently revealed that in the context of the new customs epidemic in the United States, the United States and party senators began to sell stocks in large quantities. This is a serious financial insider trading, and the US securities regulatory authorities should investigate its legal responsibility.
The institutional funds that fled in the first fall and fuse of the American stock market are undoubtedly prophetic institutional investors and a few international securities investment experts. The second monopoly of stock sellers may not belong to the behind-the-scenes pusher of short selling; They are probably just implementing the strategy of lightening their positions. In the following several times, the decline of the US stock market was blown, which was a stampede by investors in panic.
As an open world's largest securities market, the United States includes individual investors and institutional investors from all over the world. Unlike the mainland stock market, the US stock market has a short-selling mechanism. If institutional investors buy empty orders in advance, they can hedge the risk of stock market decline and reduce investment losses.
Although the US stock market fell four times in March this year, it is a miracle in the history of world securities. However, financial investment institutions on Wall Street may not lose 40%. Because they have a high probability of using the empty orders of stock index futures to fall for the stock market. Escort Even some financial institutions with strong investment strength, such as Soros's quantum fund, are not excluded; They won't miss the opportunity to short in the securities market. Moreover, financial predators such as Soros and Rogers are themselves experts in stock index futures, and no one can beat them in the short-selling securities market.
Recently, in the mainland media, another stock critic ridiculed Buffett for being trapped in the US stock market. However, history has proved that every time mainland stock critics laugh at Buffett, they are quickly slapped by reality. Because Buffett's stock god is worthy of the name, he is a human stock god, not a story on the altar.
As we all know, Buffett has a lot of cash in this US stock market crash. No one knows whether Buffett has shorted the US stock market. But when the tide recedes, everyone will find that Buffett is still a stock god, which is Buffett's dual ability to "join the WTO" and "be born".
According to our grassroots information sources, it is impossible to know that there are financial institutions in the US stock market. As ordinary retail investors, we have to make leeks. If you don't pretend to understand, you can just make jokes by publishing securities comments.
American stocks have blown several times in the past. This irrational decline is not man-made, but related to the trading mechanism of US stocks.
First, the proportion of quantitative transactions in the United States is relatively large, so you will see many gaps from the trend of US stocks. That is to say, transactions usually tend to be extreme, and the machine makes judgments according to the news, thus adopting a mechanical and somewhat extreme bullish and bearish, which reflects that the trend of both long and short sides is usually easy to be amplified. This is a model.
Second, the leverage ratio of US stocks is relatively high, and the market financing interest rate in the United States is very low, so it will attract a large number of people to conduct leveraged transactions. You should know that this is a double-edged sword. When it goes up, the increase can be doubled up, and when it goes down, it will also show an irrational side, just like the trend of our A-share 20 15. When the market drops rapidly from 5000 points, when the market performance is relatively peaceful, the leverage will be fine. If it encounters bad news,
Looking at the black hand behind the US stock market crash comprehensively, there is no black hand, but there is a big outbreak, and the panic of funds has reached the extreme. The sharp drop caused by repeated selling is a disaster caused by the lack of leverage and quantitative trading system. Just think about the fact that the rebound rate of US stocks has reached 17% in the past two days for basically the same reason.
From February 12, the Dow Jones index hit a maximum of 29,568.57, opening a crazy decline mode. By the close of the US stock market on March 20th, local time, the Dow Jones index had fallen by 34.5 1%, Nasdaq fell by 29.32% after peaking in February 19, and the S&P 500 fell by 3 1.60.
The fundamental reason for the second round of US stock market crash is that after 2008, the QE policy in the United States was cheap, interest rates kept falling, and the whole country was borrowing money, which led to the hollowing out of the economy. At the same time, the US stock market was blown up by infinite flow. In the process of the growing bubble of American stock market, enterprises borrowed money to buy back the fire, which led to the trend of American stock market for ten years.
But when you come out to hang out, you always have to pay it back. Now it's time to pay your debts.
As to the direct cause, the source believes that:
The epidemic is the fuse, the sharp drop in crude oil prices is the accomplice, and the presidential spokesman Wall Street is the driving force behind the scenes.
The outbreak of the COVID-19 epidemic will definitely have a negative impact on the American economy in the future. According to Dario's latest forecast in bridgewater, the epidemic has caused a loss of about 12 trillion US dollars worldwide and about 4 trillion US dollars in the United States. In 20 19, the GDP of the United States was $265,438 +0.34 trillion, which affected less than 20%. These concerns led to a sell-off on Wall Street. But rationally speaking, this will not halve the market value of American 2000+ stocks, which is obviously an overreaction.
This overreaction is the collapse of crude oil prices. Although American shale oil only accounts for 1% of American GDP, it conveys more panic to global investors, and the rabble further thinks that cash is king.
This isn't it? Liquidity runs will follow this trend.
With the outbreak of the epidemic and the drop in oil prices, the President has repeatedly called on the Federal Reserve to cut interest rates and release liquidity.
Therefore, under this pressure, the Fed has made a series of big moves. For example, on March 3, the Federal Reserve cut interest rates by 50 basis points for the first time, and then cut interest rates by 100 basis points. At the same time, the repurchase, trillion-dollar stimulus plan, the resumption of commercial paper financing facilities, and the convenience of money market liquidity will be superimposed.
All the above-mentioned processes and events happened after every fuse on Wall Street. In other words, Wall Street smashed the fuse stock index, and the closed Fed kept releasing liquidity.
So the conclusion is that the US stock market plummeted, and Wall Street was behind the scenes!
The indirect cause of the US stock market crash is the epidemic, and the direct cause is the United States itself. The following is divided into two parts to explain who is the last pusher of the US stock market.
The first is enterprises. As we all know, American enterprises like to buy back. American companies have no place to invest their funds every year, so they simply buy back stocks every year. Although the shares were diluted, the funds were gone, in exchange for the rise of the stock price.
Originally, the bank was willing to give you leverage, and the business was operating normally. However, this year's epidemic just cut off loans, and banks will not provide cash flow this year, making it difficult for all enterprises. Moreover, the epidemic has caused all enterprises to be unable to return to work, making it more difficult for enterprises. As a last resort, they had to sell their shares to cash out, so a large number of shareholders sold them, which was the first reason for the fuse.
Moreover, unlike China, American residents don't keep money in banks. According to inaccurate statistics, every family in the United States will use 20% of their savings to buy ETFs, so there will be a steady stream of funds pouring into the US stock market every year. Then with the first fuse this year, the people must be anxious, and the hard-earned money will shrink overnight, so there will be a second fuse and a third fuse, which belongs to panic selling.
Finally, let's see who is driving this crisis. We are still talking about the political situation in America. Why? Everyone knows that America likes to get rich, and the more chaotic the world is, the happier it will be. The United States itself is aware that the current stock market bubble is a bit overwhelmed. If you don't pierce it yourself, you must know that nothing in the world can only go up and not down, so Trump will hold a wave of elections this year. If the old man can calm this storm, he will naturally win the hearts of the people.
Who is the driving force behind the US stock market crash?
The spread of overseas epidemic and the collapse of superimposed crude oil have hit investors' risk appetite, making the already fragile mood on the verge of collapse. Coupled with the help of indexed funds and programmed transactions, liquidity has been trampled.
On March 9, US time, the US stock market opened sharply, and the Standard & Poor's 500 Index triggered the first-level fuse mechanism. This is the second fuse in history. In just two trading days, US stocks opened for 6 minutes in March 12, and the three major stock indexes collectively fell by more than 9%, triggering the fuse mechanism again; On March 16, the US stock market opened 15 minutes, and the Dow Jones index fell by 7%, which rarely triggered the fuse again. On March 18, the US stocks staged the relay race again. The S&P 500 index triggered the fuse again. So far, there have been five fuses in American history, four of which occurred in the last nine trading days.
March 9, 2020-1March 9, 9, is destined to be recorded in the history of the American stock exchange market. During this period, Dow futures triggered the upward fuse mechanism many times, and the skyrocketing and plunging became the obvious feature of US stocks.
1, the disaster caused by high-frequency programmed trading
High-frequency trading refers to programmed trading, which seeks profits from extremely short-term market changes that people cannot take advantage of. How fast is the high-frequency programmed transaction? The speed of blinking is about 300 to 400 mm, and high-frequency trading is faster than blinking. High-frequency trading has the subversive advantages of speed and technology, and the time difference of several milliseconds is enough to lead the whole financial market. In every violent fluctuation of US stocks, high-frequency programmed trading will have a great impact.
Although high-frequency programmed trading has been in the whirlpool of controversy, it has become one of the most important trading methods in the United States. 20 10 It is reported that the volume of high-frequency trading now accounts for about 70% of the volume of the US stock market. This means that if there is no high-frequency trading, the trading volume of US stocks will decrease by 70%.
"High-frequency trading has different strategies. It will accelerate the ups and downs of the market, but it also provides liquidity and sometimes creates amazing profits. 20 15 Easton, a foreign company, took advantage of the fluctuation of the securities and futures market and made profits of more than 2 billion by using high-frequency trading. But it's not a sure bet. In 20 12 years, American knight capital engaged in high-frequency trading suffered a huge loss of $460 million in 1 hour due to engineer mistakes.
The direct fuse of the US stock market crash is the continuous spread of the epidemic and the collapse of oil prices. However, high-frequency programmatic trading is also considered to be the biggest driver of the US stock market meltdown. In fact, whenever the market plummets, programmatic trading will attract a lot of controversy.
How much responsibility does the programmed transaction have for the fuse? There are differences in the industry. When many funds want to take advantage of the same opportunity to issue orders at high speed, there will be a run on financing and excessive correction, which may cause rapid rise and fall, or aggravate the rise and fall. "But the melting of US stocks itself is caused by investors' pessimistic expectations for the future and has little to do with programmatic trading. "
High-frequency trading provides a lot of liquidity, which is two-way, which can provide liquidity or buy out liquidity. Whether high-frequency trading helps rise or fall depends mainly on the trading strategy adopted. "For example, when providing liquidity, programmatic trading has played a role in preventing ups and downs." "However, when the market fluctuates violently, most high-frequency transactions are taking away liquidity, which really contributes to the skyrocketing." Every time there is a fuse, high-frequency trading will accelerate the market crash.
If the market continues to fall, programmatic trading will take advantage of speed to snatch high-priced bills from investors, so that investors' prices can be traded at lower prices. When investors panic, there will be a lot of selling. In such a unilateral situation, programmed trading will accelerate the decline.
2. Some people are damaged, and some people make money against the trend.
The global stock market crash has caused countless investors heavy losses, but on the other hand, it is also a once-in-a-lifetime opportunity to make money. "The trading frequency has reached more than 10 times the usual frequency. The amount earned may be far more than 10 times, mainly depending on the transaction amount. "
The profit logic of high-frequency trading is that no matter whether it goes up or down, as long as there is a transaction, you can make money. It depends heavily on the volatility of the market. When the market fluctuates violently, transactions are more frequent and high-frequency transactions are more profitable. Wind data shows that the amplitude of Dow Jones index reached 8. 16 on March 9, 9.64 on March 12, and 16 on March/2.44%.
"The market is volatile and there are many trading opportunities. There will be more investors buying and selling regardless of the price, and the spread will be more volatile. In the ordinary market, it is possible to catch two or three big sellers regardless of the price in one day. However, a fuse market may have 100 times. The transaction volume at the time of fusing is 10 times as usual. " Therefore, the profit source of high-frequency trading is to earn intermediate prices by eating spreads.
In short, high-frequency trading can provide both the buying price and the selling price to the market at the same time, obtain the trading prices of all parties in advance by using computer speed, and profit from high-frequency trading by using the price difference.
The profit earned by high-frequency trading is amazing. 20 15, Eaton made a short-term profit of 2 billion. At present, European and American international financial giants, including Goldman Sachs, Morgan Stanley and Deutsche Bank, have used high-frequency programmatic trading in a large proportion. It has amazing ability to make money, but it never just makes money without losing money.
"Any accidents, such as strategic judgment errors, hardware system failures, extreme market conditions, small mistakes in program development, and decimal point errors, will cause serious losses." High-frequency programmed trading is extremely strict with every detail.
A typical example is at 20 12. American Knight Capital, which is famous on Wall Street and engaged in high-frequency trading, suffered a huge loss of $460 million in one hour due to the negligence of engineers in updating the code, which led to the management crisis of Knight Capital and was finally acquired by other companies. The Oolong Finger Incident of Everbright Securities was also caused by procedural trading errors.
High-frequency trading is not easy. High-frequency trading is a systematic financial project, which needs the cooperation of many modules and institutions. There are very strict requirements on network speed, trading strategy and code architecture. In particular, the requirement for speed has reached the extreme. Because of the gap of a few milliseconds, you are behind your competitors.
Engaging in high-frequency trading requires huge investment, and at the same time, it has high requirements in all aspects, especially the demand for talents. However, with its own advantages, programmatic trading has stood firm in the dispute for a long time. High-frequency trading has long been the mainstream trading method of US stocks.
3.ETF is related to the sharp decline of US stocks.
In addition to the obvious root causes of the crisis-COVID-19 and the sharp drop in oil prices, various market changes in recent years have also been used by analysts to explain such a rapid decline. The decline of US stocks this time is different from that in 2000 and 2008, which is mainly reflected in the differences in leading institutions, main products and centralized buying.
From 2009 to now, the US stock market has risen by about 1 1 year. Before 20 17, the rise of US stocks was sustained by the head enterprises buying back their own shares. However, after 20 17, the dominant mode changed. In the past, institutional investors with low risk preference invested heavily in technology blue chips through ETF and machine trading, and huge exogenous shocks led to the emergence of investor equity investment.
"the underlying asset of a large number of machine transactions is ETF. Machine transactions are sold at the same time, which is easy to form trampling and is the driving force for aggravating fluctuations. " The market crash first comes from the vicious circle of negative feedback between market liquidity and financing liquidity. In other words, investors who suffer losses need to sell their positions in the process of meeting the margin. The resulting continuous decline will make counterparties willing to provide liquidity disappear. "This process itself is caused by both the trading system and the regulatory system. The similarity and concentration of various strategies are the inevitable reasons for this process. " These strategies can cope with price fluctuations within a reasonable range, but once exogenous factors (such as the spread of the epidemic and the sharp drop in oil prices) lead to fluctuations beyond this range, they will trigger these strategies to make selling decisions, which will lead to the disappearance of market liquidity and form a vicious circle with financing liquidity.
Personally, the stock market needs an expectation to stabilize.
That is, hope for a better future.
But now the spread of COVID-19 epidemic in the United States has just begun, not to mention control, and even the whole epidemic prevention work has no intention of getting on the right track.
In other words, the impact of the epidemic on the economy is simply a bottomless pit and there is no hope at all.
The rebound of US stocks 10 was based on Trump's news of tax cuts to the market. As a result, the news that came out the next day came to an end, so the unconfirmed favorable policies aroused the market's concern about the timeliness of the White House emergency rescue policy, further amplifying the bad news, resulting in the first day's gains being completely erased.
Besides, this year is an election year. For the Democratic Party, the stock market crash is actually a good opportunity to find a gun. Therefore, no matter from which point of view, the Democratic Party is unlikely to save Trump from the market, which is equivalent to the economic stimulus plan to save itself.
Even if we are worried about the future economic trend of the United States, or prevent us from accepting a mess next year, the Democratic Party will eventually support the introduction of certain policies.
But it can be predicted that its irritation and timeliness will be greatly reduced. Trump wants to do whatever he wants, regardless of the consequences, and it can only be wishful thinking.
Personal opinion, I hope it will help you.
1. The epidemic spread. The stock market is a barometer of economic growth. However, the global spread of the epidemic has exceeded everyone's expectations. Europe and the United States have become the centers of the global spread of the epidemic. Affected by the spread of the epidemic, the aviation industry, tourism, catering industry and offline stores in the United States have been greatly affected, resulting in the decline of the performance of many listed companies, which led to stock market turmoil.
2. Crude oil plummeted. The Organization of Petroleum Exporting Countries and its allies finally failed to reach a new agreement to deepen production reduction. Saudi Arabia decided to increase oil production and gain more oil market share, and oil stock index futures plummeted, thus prompting the US stock market to accelerate the fuse.
3. Cash demand. U.S. stocks have gone through a decade of bull growth, and many investments have gained a lot of profits, rising too much, and they also have their own adjustment needs.
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