The Dow Fell More Than 200 Points &Nbsp; The Largest Single Day Decline In The Year.

On Tuesday morning, Beijing time, on Tuesday, the US stock market fell sharply, and the market suffered the biggest daily decline this year. The Dow index has dropped nearly 230 points at most.

Risk of disorderly default in Greece and China's downward adjustment

At 16:00 on March 6th at US east time (Beijing time 05:00 March 7th), the Dow Jones Industrial Average fell 203.66 points to 12759.15, a 1.57% drop, and the Nasdaq composite index fell 40.16 points to 2910.32, a 1.36% decline, and the standard & Poor's 500 index fell 20.97 points to 1343.36 and 1.54%.

The natural resources sector, which is closely related to China's economic growth, is leading a decline.

Jason Pride, head of investment strategy division at Glenmede, said: "with some worrying news coming out, the market began to rest for a while." Jason said.

By virtue of the push of the US, emerging markets and even European economic conditions, such as tighter fiscal alliances and the long-term refinancing operation of the European Central Bank, "the US market has risen sharply in the past few months," price said.

Jim Reid, a strategist at Deuthe Bank Securities Inc in London, points out that some recent economic data are disappointing, and China decided on Monday to reduce its economic growth target from 8% to 7.5% in 2012. Investors have begun to "slightly adjust" the global economic growth expectations.

Ryder believes that the market is also falling from the "liquidity level".

"So far, this ongoing crisis has turned into a war between bad fundamentals and adequate liquidity," he said.

Although the latest round of liquidity will affect the market in a certain period of time, investors may begin to worry slowly that some crises may need to happen again before they have the next round of liquidity.

At the same time, investors were nervous before the Greek bond swap ended on Thursday.

If it can be successfully replaced, Greece will reduce its debt burden by more than 100 billion euros by allowing private bondholders to bear about 53.5% of principal write downs.

Only successful replacement of bonds can guarantee Greece's second round of rescue and avoid default at the end of this month.

According to media reports, the participation rate of Greek bond exchange programme has reached 20%.

Tuesday

Corporate news, weight loss project provider Nutrisystem (NTRI) shares fell sharply after the company announced that the fourth quarter of the loss expanded, less than expected revenue.

Monster Worldwide (MWW), an online employment service, rose. The company announced on Monday night that it had hired financial information institutions to evaluate strategic options (usually M & A pactions) to increase shareholder value.

Stage Stores (SSI) announced on Tuesday that its fourth quarter earnings grew 2.3% over the same period last year, but lower than expected.

There was no important economic data released on Tuesday.

The main event this week will be the non farm employment data released in February and other labour market data released on Friday.

Economists surveyed by MarketWatch expect an average increase of 213 thousand in February, and the unemployment rate is expected to remain unchanged at 8.3%.

On Monday, the US stock market fell, and some of the sub index of the ISM non manufacturing index (1059.766,2.82,0.27%) made investors worry about the economic growth prospects.

The New York Mercantile Exchange delivered crude oil futures in April, down 1.9%, to $104.70 a barrel.

Gold futures fell 1.9% to $1672.10 an ounce.

Greece denies the 8 day deadline for postponing the swap period.

According to Reuters, Greek officials said on Tuesday that the government had not drawn up a plan to postpone the deadline for private creditors to accept bond swap from March 8th.

They pointed out that the market rumors on the 8 day will be postponed to enhance the exchange participation rate.

An official from Greece's Ministry of Finance told Reuters that "we must point out that rumors about the time limit for the swap of bonds will be pushed back."

He also said that Monday Greek finance minister Venizelos (Evangelos Venizelos) has made it clear that the March 8th deadline will not be postponed, the statement of the finance minister is still valid.

Besides,

The Greek bond exchange rate has reached 20%.

According to data released today, so far, the debt held by private investors who announced their participation in the Greek debt restructuring plan accounted for about 20% of the total debt involved in the swap pactions requested by international assistance.

Until then, the Greek government has set a 75% participation rate for this plan as a threshold for continuing the plan.

The 12 member companies of the Institute of International Finance Steering Committee yesterday said they would accept the swap agreement, but the association declined to disclose the proportion of Greek private sector debt held by member companies in its total debt.

According to data compiled by Bloomberg, according to the company's report, the total value of Greek debt held by the 12 companies is at least 40 billion euros (about 53 billion US dollars).

It is reported that all Greek banks will participate in the replacement of bonds.

According to Reuters, Greek banking sources said Tuesday that all eligible Greek banks are expected to take part in the Greek debt replacement program.

A banker said that all Greek banks hold more than 40 billion euros of the country's bonds.

All Greek bond holders must decide whether to take part in the bond replacement program by March 8th.

The scheme requires creditors to write down more than 70% of Greek bonds held.

A senior banker told Reuters: "I think all Greek banks will take part in the debt replacement program."

New York gold futures closed down 1.9% at $1672.10.

New York gold futures closed down on Tuesday, continuing the downtrend in the previous two trading days as investors worried about the global economic outlook.

On the same day, the gold futures price of the New York Mercantile Exchange (NYMEX) commodity exchange (COMEX) fell $31.80 in April, closing at $1672.10 an ounce, or 1.9%, the lowest closing price in nearly 6 weeks.

New York crude futures closed down 1.9% at $104.70 a barrel.

New York crude oil futures closed down on Tuesday, hitting the lowest closing price since mid February, mainly due to investor concerns about the global economic outlook and the US Department of energy inventory report due to be released later this week.

On the same day, the New York Mercantile Exchange (NYMEX) delivered light crude oil futures in April, down $2.02, or 1.9%, at $104.70 a barrel.

Global growth worries depressed European stocks by 2.7%

European stocks fell sharply on Tuesday, and worries about global economic growth recur. Whether the Greek debt swap agreement can be successfully concluded later this week is two to one, with bank stocks and resource stocks falling down.

The pan European Storck 600 index fell 2.7%, closing at 258.46 points, the biggest decline since last November.

The French CAC 40 index fell 3.6%, closing at 3362.56 points.

The FTSE 100 index fell 1.9%, closing at 5765.80 points.

The German DAX 30 index fell 3.4%, closing at 6633.11 points.

Greece's Athens composite index rose 2.8% to 755.06 points in the eurozone periphery market.

The FTSE MIB index of Italy fell 3.4%, closing at 16218.06 points.

Spain's IBEX 35 index fell 3.4%, closing at 8166.60 points.