On August 5th, global stock markets plummeted! Dongfang Port Chairman Dan Bin posted on Weibo, saying, "The market before this round was terrifying, but I am planning to continue buying with the new money today. Black Monday, how about throwing a grenade? History has proven that buying in times of panic is not wrong
Dan Bin said, "I still believe that the strongest voice of this era is artificial intelligence, and this is not the Internet foam era in 2000. At that time, some companies had PE more than 100 times, while Nvidia's latest estimate of PE more than 30 times this year will be nearly 20 times next year. If artificial intelligence is the future, I don't believe that such a valuation can have a lot of downward space. Even if it falls, it will also rise. Meta and Google are all about 20 times PE, only Microsoft, Apple and Amazon are slightly higher, but it is acceptable, and I don't think I should panic. In addition, the current basic situation, unlike 2008, there is no macroeconomic risk caused by the subprime mortgage crisis. I believe that interest rate reduction cycle+artificial intelligence The revolution will continue the bull market of Nazhi, which should be a historical cycle of more than ten years."
Before the US stock market opened, technology stocks fell sharply, with Nvidia and Apple falling more than 6%, and Tesla falling 4.24%.
Affected by investors' concerns about the US economic outlook falling short of expectations and multiple factors such as the Bank of Japan's interest rate hike, the Tokyo stock market continued to plummet on August 5th, continuing the decline of the last trading day of last week. At the close of trading on the 5th, the Nikkei 225 index fell 4451.28 points from the previous trading day to 31458.42 points, triggering circuit breakers twice during this period, marking the largest decline since 1987.
Regarding the rapid decline in the stock market today, Japanese Chief Cabinet Secretary Lin Fangzheng stated that the Japanese government will continue to monitor market trends and stabilize economic and financial operations.
On August 5th local time, both major stock indices in South Korea triggered circuit breakers. The Korea Composite Index (KOSPI) fell more than 10% during the trading session, falling below the 2400 point mark and triggering a circuit breaker mechanism. As of the close, the South Korean Composite Stock Index fell 8.77%.
On August 5th, major European stock indexes experienced a widening decline, with the European Stoxx 50 index falling more than 3%,
As of press time, the German DAX index fell 2.15%, the UK FTSE 100 index fell 2.15%, the French CAC40 index fell 2.44%, and the major Italian stock indexes fell 3.38%, surpassing the decline on Black Monday in October 1987.
In addition, the Oslo stock index in Norway fell 4.2%, expected to record its largest daily decline since March 2020. The Swedish blue chip index fell 3.9%, expected to record its largest decline since March 2023.
The blue chip index of the Copenhagen stock market in Denmark fell 5.5% at the beginning of trading, expected to record the largest decline since March 2020.
The European Stoxx 600 Bank Index fell 4.6% to a new low since March, while the European Stoxx 600 Technology Index fell 5.1% to a new low since January. European listed semiconductor companies ASML, ASMI, and BESI plummeted 6.6%, 12%, and 11% respectively at the beginning of trading.