On March 26, U.S. stocks opened slightly higher, with the Dow up 1.26%, the NASDAQ up 1.06%, and the S & P 500 up 1.04%. US airlines rose. Delta rose 3.8%, American Airlines Group rose 4.1%, and United continental rose 4%.
In the Asia Pacific region, a shares closed down 0.60% at 2764.91 in Shanghai, 0.84% at 10155.36 in Shenzhen and 0.55% at 1927.28 in gem. Hong Kongs Hang Seng Index fell 174.85 points, or 0.74%, to 23352.34.
On the news, the number of Americans applying for unemployment benefits for the first time last week reached 3.283 million, a record high, with an expected 1.64 million, compared with 281000 previously. On Thursday, Federal Reserve Chairman Powell reassured the market that he was trying to provide support. The Federal Reserve still has policy space and action will not cause long-term inflation risk. The fourth quarter GDP of the United States is 2.1% year-on-year, estimated at 2.1% and 2.1% before.
Yu Zhen, executive director and professor of the US Canada Institute of Wuhan University, said that the spread of the epidemic has greatly increased the risk of US economic recession. The Federal Reserve hopes to use its loose monetary policy tools and unlimited liquidity support to slow down the impact of the epidemic and stabilize market confidence. However, the current predicament of the U.S. economy is not a simple liquidity problem, but rooted in the new crown epidemic.
Zhang Yansheng, chief researcher of China International Economic Exchange Center, said that there are various opinions about the impact of the epidemic on the world. But in any case, basically, the global economy is in recession. According to the definition of IMF, the global economic growth rate falls into recession when it is below 2.5%. This year, the global recession has become a foregone conclusion. When the spread of the epidemic in Europe and the United States is out of control, because the disease is characterized by isolation, isolation is a pause. If the supply chain, production chain and value chain in Europe and America are suspended, it will have a great impact on China, which has never been seen in history. In the past, no matter the great depression or the great crisis, there has never been a pause in the two most developed regions in the world.
Extended reading: last week, 3.283 million people applied for unemployment benefits for the first time in the United States, a record five times. Last week, 3.283 million people applied for unemployment benefits for the first time in the United States. Chairman of the Federal Reserve: there is still policy space for the current non typical economic downturn. Source: Netease Financial Editor: Zhong Qiming