Summary: Dow Fell 3.68%&Nbsp, NASDAQ Hit 5.22%

The US stock market was big on Thursday. Fall The Dow fell below the 11000 point. The European sovereign debt crisis is still continuing; the US economic data are far from expected; Morgan Stanley has lowered global economic growth expectations, all of which make investors worry that the US economy may fall into the two recession and global economic growth will slow down.

At 16:00 p.m. Eastern time on August 18th (Beijing time August 19th 04:00), the Dow Jones Industrial Average fell 419.40 points, closing at 10990.81 points, or 3.68%, while the Nasdaq composite index dropped 131.05 points, closing at 2380.43 points, or 5.22%, while the standard & Poor's 500 index fell 53.24 points, or 1140.65 points, or 4.46%.

Today, the index has fallen by nearly 528 points. Industrial plate Lead a fall Market.

Ken Tower, a senior analyst at Quantitative Analysis Service, an investment agency, said: "before the opening of the US stock market on Thursday, the European market fell sharply, which is entirely the result of the European sovereign debt crisis. Investors are just paying attention to bad news as usual. "

Doyle said, "there should be some sort of callback in US equity, but today the big pullback is surprising. But generally speaking, the market is very turbulent.

Mark Marc, head of Brown Brothers Harriman global exchange market strategy, said Marc Chandler, "worries about the European banking industry continue to worsen market sentiment."

Morgan Stanley lowered global economic growth expectations, saying that the European sovereign debt crisis policy is not effective. In addition, New York Fed chairman Dudley also lowered the US economy. recovery Expectations.

According to the Wall Street Journal on Thursday, the Federal Reserve and the US regulators have stepped up the supervision of the US departments of major European banks to assess whether they can withstand the pressure of financial pressure. Officials worry that the euro zone debt crisis may hurt the ability of banks to repay loans and other requirements set by the United States.

The Swedish financial authorities also said that the Swedish lender must take more measures to prevent the spread of the sovereign debt crisis in Europe.

On the economic data side, the US Labor Department announced that for the week ending August 13th, the number of people claiming unemployment benefits for the first time was 408 thousand. According to a survey by Bloomberg, economists expect an average of 400 thousand. A week earlier, the number of unemployed Jin people was 395 thousand. Economists surveyed by MarketWatch expect the figure to rise to 400 thousand on average.

Another data released by the Ministry of labour shows consumers in the US in July. Price Index (CPI) increased by 0.5%. According to a survey by Bloomberg, economists' average expectation is 0.2% higher than the annulus. In June, the CPI fell by 0.2%. Economists surveyed by MarketWatch expect CPI to grow by 0.4% and core CPI by 0.2%.

The US economic and Trade Bureau announced that the leading economic indicators index in July increased by 0.5%. According to a survey by Bloomberg, economists' average expectation is 0.2% higher than the annulus. In June, the index increased by 0.3%.

The real estate broker Association (NAR) announced that 4 million 670 thousand second-hand housing sales in July. According to a survey by Bloomberg, the average forecast of economists is 4 million 920 thousand. In June, the number of second-hand housing sales was 4 million 770 thousand.

The Philadelphia Fed announced that the Philadelphia Federal Reserve manufacturing index in August (1262.576, -23.77, -1.85%) was -30.7. According to a survey by Bloomberg, economists expect an average of 4 points. The Philadelphia fed index in July was 3.2.

Michael Hewson, an analyst at CMC Markets market in London, said that after the launch of the short selling ban in Europe to promote the stock market rally last week, the market was worried about the global economic slowdown and European leaders' failure to take action to solve the sovereign debt problem of the euro zone, which put pressure on the market again. Michael Michael

Although it is hard to pinpoint the single cause of the current sell-off pressure, he said, part of the reason for the weak market is that the market has delayed reaction to the failure of the German German summit this week to solve the euro zone debt problem.

"I think it is generally agreed that European authorities have no clue how to solve the European debt crisis," he said. In his view, in view of this understanding, investors seem to be evacuating cyclical stock investment, instead of choosing gold and other hedge assets.

Asia's stock market closed down on Thursday, and European stock markets fell sharply amid worries about global economic growth.

Japan's Nikkei 225 average index fell 1.3%, the lowest level since March 15th.

The New York Mercantile Exchange September crude oil futures price fell 5.9% to 82.38 dollars per barrel. Gold futures rose 28.20 US dollars to settle at US $1822 an ounce.

Morgan Stanley downgrades global economic growth this year

On Thursday, Morgan Stanley lowered its forecast for this year's global economic growth, saying that coping with the European sovereign debt crisis did not effectively weaken investor confidence, and the fiscal tightening policies proposed by many countries would exacerbate the drag on the economy. Worry 。

Morgan Stanley released a report today that the world's economic growth forecast this year will be reduced from 4.2% to 3.9%, while the next year's global economic growth forecast from 4.5% to 3.8%.

The heavy debt burden of developed countries poses a threat to the global economy and triggered a sharp collapse in global stock markets this month, which has caused the stock market to evaporate in the trillions of dollars. At the same time, the slowdown in economic growth, such as Germany, which is an important driving force for European growth, has hurt investor confidence.

New York Fed chairman Dudley reduces recovery expectations

New York's Federal Reserve Bank, Dudley, said Thursday that US economic growth in the first half of the year was "significantly slower than expected", prompting him to lower expectations for economic recovery.

In his speech to business leaders in New Jersey, Dade said that among the many factors that restrict economic growth in the first half of this year, only high oil prices and Japan's earthquake disasters are temporary. Dudley pointed out, "obviously, not all economic constraints are temporary. Considering these, I readjust the anticipation of future economic growth."

The new Federal Reserve examines the financing of European banks in the US

It is reported that the federal and government regulators are stepping up surveillance of major European banks in the US, because the US authorities are increasingly worried that the European debt crisis may affect the US banking system.

The Federal Reserve Bank of New York is responsible for supervising the branches of many large European banks. The bank recently held meetings with these banks to assess their increasing financial pressure. According to people familiar with the matter, the Federal Reserve Bank is asking banks to provide detailed information about whether they have reliable financing channels in the us to maintain their day-to-day operations, and in some cases will require banks to adjust their business structure in the US.

A senior European bank executive said that New York fed bank officials were very concerned about the financing difficulties faced by European banks in the US.

August Philadelphia fed index -30.7 hit 2 and a half years low

The Philadelphia manufacturing industry report released by the Federal Reserve in August showed that the activity of manufacturing in the middle part of the Atlantic (13.30, -0.25, -1.85%) fell sharply, and the related index dropped to -30.7, the lowest since March 2009. Dow immediately dropped more than 500 points.

The Philadelphia fed index in July was 3.2. -30.7's latest readings are surprisingly low, which is significantly lower than the average expected 3.7 of economists surveyed by Thomson Reuters. The Philadelphia fed manufacturing index is higher than zero indicating that the local manufacturing sector is growing, while the greater the absolute value below zero, the faster the manufacturing industry shrinks. {page_break}

The number of unemployed Jin people is 400 thousand worse than expected.

Last week, the US government released the first report on unemployment benefits, which showed that the growth rate of the number of mobile phones increased more than expected last week, breaking through the 400 thousand pass again. This shows that although employment in the United States remained basically stable in August, the growth rate was not strong enough to push the unemployment rate down.

According to the Ministry of labour, the number of unemployed Jin people increased by 9 thousand during the week ending August 13th, and the total number of unemployed persons increased to 408 thousand. According to a survey by Thomson Reuters Group, the average forecast for economists last week increased to 400 thousand. The number of people in the previous week has been raised to 399 thousand from 395 thousand released a week ago.

4 million 670 thousand second-hand housing sales in July were worse than expected.

The US Real Estate Broker Association (NAR) announced that in July, the sale of second-hand housing was the lowest in 8 months, down 3.5% in the chain, and 4 million 670 thousand in the sales volume. The data in June were revised from the first 1 million 770 thousand to 1 million 840 thousand. According to the MarketWatch survey, economists expect 4 million 990 thousand copies of second-hand housing sales in July.

In July, sales of second-hand housing sales increased by 21% over the same period last year, when second-hand housing sales were at a cyclical low after the expiration of the purchase tax policy. In 2005, the sale of second-hand housing reached 7 million 80 thousand peaks.

The US CPI increased by 0.5% in July, higher than expected.

The report released by the US labor department on Thursday showed that the US CPI growth rate was higher than expected in July because of the sharp rebound in gasoline prices. However, the core CPI pressure was moderate, and the Fed's judgment on the prospect of low deflation was supported.

The labor department said the US CPI grew by 0.5% in July, the highest growth rate since March and 0.2% in June. Economists surveyed by Reuters expect an average CPI growth of 0.2% in July.

After a 6.8% decline in June, gasoline prices rose by 4.7% in July, and CPI rose by 0.5%. In July, excluding the food and energy prices, the core CPI rose 0.2%, with a previous value of 0.3%. The Fed last week promised to keep low interest rates close to zero until mid 2013 to stimulate economic growth, while inflation expectations were suppressed in the medium term.

New York gold futures closed at a record high of $1800.

New York gold futures rose on Thursday and the third consecutive trading day hit the highest closing price because the market worried that the US economy could fall into recession again, pushing gold futures to above $1800 an ounce.

On the same day, gold futures on delivery of the New York Mercantile Exchange (NYMEX) commodity exchange (COMEX) rose $28.20 in December, or 1.6%, at $1822 an ounce.

New York crude futures closed down 5.9% at $82.38 a barrel.

New York crude oil futures closed down on Thursday, the highest level in more than a week, mainly due to Morgan and MS (DBK) both lowered the expected growth rate of the global economy, thus promoting the overall weakening of the commodity futures market.

On the same day, the New York Mercantile Exchange (NYMEX) delivered light crude oil futures in September, down $5.20, or 5.9%, at $82.38 a barrel.

European stock market plunged and bank shares dived

European stock markets slumped on Thursday, and investors worried that global economic growth would slow down, and the European banking situation was also a source of uncertainty for investors. Pan European Dow Jones Stoxx 600 index fell 4.8%, closing at 226.70 points.

The German DAX 30 index fell 5.8%, closing at 5602.80 points. The French CAC 40 index fell 5.5%, closing at 3076.04 points. The FTSE 100 index fell 4.5%, closing at 5092.23 points. The Italy financial times MIB index fell 6.2%, closing at 14970.42 points. (