SMM News: affected by the global economic downturn, global risk assets suffered a sharp decline.
On the evening of May 23, Brent crude fell below the $69 mark to $68.94 a barrel, down 2.89% on the day.
In Europe, the DAX index in Germany fell 1 per cent, the CAC40 index in France fell 0.8 per cent and the FTSE 100 index in the UK fell 0.5 per cent at the start of trading. The Stoxx index of European stocks hit a session low, falling 1.1 per cent at one point, while the sub-index of the auto industry fell 3 per cent.
With increased market uncertainty, in addition to trade issues, the Brexit process also poses risks.
British Prime Minister Theresa May said yesterday that her plan to leave the European Union, which she would submit for a parliamentary vote on Friday, would be "the last chance". The news sent the pound to its lowest level against the dollar this year.
At the same time, the European Parliament elections will also be held from 23 to 24, further increasing market volatility.
In Asian stocks, India's Sensex index and Nifty index wiped out intraday gains and fell, while Sensex fell 0.5 per cent. This morning, the Japanese and Korean stock markets spread into the afternoon.
The Hang Seng index fell 1.6 per cent to its lowest level since the end of January to 27267.13. Tencent fell nearly 4%, Xiaomi fell nearly 3%, and Shunyu Optics fell nearly 8%.
The decline in the price of US stock index futures widened significantly. As of 15 / 08, Nasdaq futures were down 1%, S & P 500 futures were down 0.7%, and Dow futures were down 0.6%.
The dollar index hit its highest level since May 2017, at 98.34. The euro fell more than 0.3% against the dollar.
The onshore yuan closed at 6.9190 against the dollar at 16:30, down 150 basis points from the previous session and breaking its lowest level since November 30, 2018.
On the news side, Liu Guoqiang, deputy governor of the central bank, said that he was experienced in dealing with exchange rate fluctuations and had sufficient reserves of policy tools.
In addition, France and Germany have today released the initial values of manufacturing, services and comprehensive PMI in the euro zone one after another in May.
The euro zone's combined PMI hit a two-month high in May, but there was still no significant growth, while manufacturing PMI was below the boom-bust line for the fourth month in a row.
German manufacturing PMI fell further to a contractile zone, while services PMI fell to its lowest level in four months.
The initial values of manufacturing, services and combined PMI in France in May were all above the 50% withered glory line.
Chris Williamson, chief business economist at IHS Markit, the data compilation agency, said the eurozone economy remained in the doldrums in May and there were signs that only modest growth would be achieved in the second quarter.
He also predicted that GDP in the eurozone was 0.2 per cent in the second quarter, 0.2 per cent in Germany and 0.1 per cent in France.
ECB President Draghi said last month that if the eurozone economy continued to slow, there might be more money to support it.
In the process of continuous update.