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After setting a new high, American stocks collectively dived! At one point, the Nasdaq plunged more than 5%, and Apple and Tesla bled collectively.
Sep 4,2020 07:00CST
translation
Source:Financial Union
The American stock market dived collectively after the innovation. At one point, the Nasdaq plunged more than 5%, and Apple and Tesla collectively bled. On Thursday, US stocks, which had been hitting record highs, made a sharp pullback, with the three major stock indexes plummeting across the board under the fierce counterattack of short sellers. At one point, the Nasdaq plunged more than 5 per cent above 12000, the S & P 500 fell more than 3 per cent, the Dow fell more than 2 per cent, and the panic index soared more than 20 per cent at one point. Apple, Tesla and other technology stocks plummeted collectively.
The content below was translated by Tencent automatically for reference.

SMM: U. S. Eastern time on Thursday, the previous record-high U. S. stocks a sharp pullback, short-sellers fiercely counter-attack under the three major stock indexes plummeted across the board. At one point, the Nasdaq plunged more than 5 per cent above 12000, the S & P 500 fell more than 3 per cent, the Dow fell more than 2 per cent, and the panic index soared more than 20 per cent at one point.

Apple, Tesla and other technology stocks plummeted collectively. As of press time, Tesla is down more than 7%, Apple is down more than 6%, Amazon, Facebook and Microsoft are down more than 5%, Netflix and Google are down more than 4%.

Ann Berry, a partner at Cornell Capital, says that as market value continues to hit new highs, people are slowly trying to get back to fundamentals.

Prior to this, Tesla's largest external shareholder reduction news is also the fuse of investors' profit-taking. Baillie Gifford, a fund manager and one of Tesla's largest shareholders, sharply reduced its passive shareholding to 4.25 per cent from 7.67 per cent on December 31, according to CSRC filings. Although Baillie Gifford said it is still a long-term "believer" of Tesla, the reduction is only due to portfolio restrictions, but the move still triggered investors to follow suit.

It is worth noting that the sharp fall in the market today has long been a sign, although the three major US stock indexes closed higher yesterday, and the Nasdaq broke through 12000 points for the first time, but Apple and Tesla were one step ahead of the market yesterday and encountered profit-taking.

The Dow, which had risen slightly before, also fell relatively small this time. Although the S & P 500 and NASDAQ have hit new highs in a row, the Dow has yet to break through all-time highs, reflecting the huge impact of the epidemic on the real economy.

For future performance, it is generally believed that weekly stocks will rise. Greg Hahn (Greg Hahn), chief investment officer of Winthrop Capital Management, said: "at some point the rise of the sector will rotate. In the future, everyone will be protected by vaccine and life will return to normal. "

The future market still faces uncertainty, the deadlock in a new US stimulus package is difficult to break, and investors are worried about whether the two parties can reach a deal later this month. In addition, the US economy is still much worse than it was before the pandemic, tens of millions of Americans are still out of work, and many industries, such as tourism, entertainment and aviation, are still being hit hard.

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