A day to witness history.
The panic of the sharp decline in Japanese and Korean stocks has spread to the European and American markets. On the afternoon of August 5th, multiple securities firms announced that trading had been suspended during today's night trading session due to abnormal upstream systems in the US stock market.
A source familiar with the matter told reporters that due to the recent high trading volume, there have been abnormalities in the upstream system during night trading. The key is whether the systems of various securities firms can be under pressure after the opening of the US stock market tonight.
Futu Holdings issued a statement saying, "Dear customer, due to an abnormality in the upstream system of the US stock market's night trading, trading has been suspended during today's night trading session. The scope of this impact includes most securities firms that provide night trading services. We are in contact with the upstream for communication, and we apologize for any inconvenience caused
Tiger Securities also issued a statement to investors, saying, "Due to the abnormal night trading system of the US stock exchange, trading has been suspended during today's night trading session. It is understood that securities firms that support night trading have been affected. We are contacting the exchange for communication. We deeply apologize for any inconvenience caused to you
According to Watcher Guru reported that Robinhood has suspended trading for 24 hours.
Affected by weak US employment and economic data, coupled with the soaring yen and geopolitical tensions in the Middle East, global stock markets suffered a heavy blow on Monday.
Today, the Japanese stock market led the decline. Just 20 minutes after opening, the Japan Eastern Stock Exchange index fell by 8%, triggering a circuit breaker mechanism. As of the close, the Nikkei 225 index fell 12%, marking the largest single day decline in history; The CSI index closed down 12%, the largest daily decline since 1987, and triggered circuit breakers multiple times during trading. The above-mentioned stock indexes have fallen more than 20% from their high point in July, and are likely to enter a technical bear market. Banks, finance, and mining stocks led the decline.
In terms of the South Korean stock market, the KOSPI index closed down 8.8%, the largest decline since 2008, and triggered circuit breakers during trading. Samsung fell more than 10%, the largest decline since 2008.
Taiwan, China's stock market plunged 8.4%, a record one-day decline. Among them, the star stock TSMC fell nearly 10%, leading the market in decline. The Straits Times Index in Singapore fell about 3%, while the Vietnamese stock index closed down nearly 4%. The MSCI Emerging Markets Index fell more than 3%, the largest since June 2022.
The US stock market is even more 'on high alert'. Before the US stock market opened, stock index futures fell sharply, with Nasdaq 100 index futures falling 6.5% at one point, and then narrowing to around 4%. The S&P 500 index futures fell 2.4%, while the Dow Jones Industrial Average futures fell 1.6%.
In terms of individual stocks, large tech stocks in the US were the first to suffer from sell offs and pre-market crashes. Nvidia fell over 9%, Google A fell nearly 4%, Microsoft fell 4.5%, Amazon fell nearly 4%, and Tesla fell over 5%. Apple fell over 7%, Bank of America fell nearly 6%; Previously, Berkshire Hathaway reduced its holdings of Apple by nearly 50% and sold off Bank of America stocks for twelve consecutive trading days.
Cryptocurrencies have experienced a crazy plunge, with Bitcoin plummeting by over 11% at one point, falling below $54000 per coin; Ethereum fell over 26% at one point and fell below $2100. Within 24 hours, the number of people experiencing liquidation in the cryptocurrency market exceeded 230000, with a total liquidation amount of 883 million US dollars, equivalent to 6.3 billion yuan.
Affected by this, cryptocurrency related concept stocks plummeted across the board before trading, with Marathon Digital and Coinbase falling more than 14%, and MicroStrategy falling over 17% at one point.
Tonight, perhaps destined to be restless.