Chapter 1368 The Situation Is Serious

Text Chapter 1368: The situation is serious

Thursday, April 13, 2000 at noon.

The Nasdaq index stabilized, only slightly falling within 50 points. One of the few "stars" today is the Internet upstart Amazon, whose market value has fallen to half of its highest point last year.

Yahoo continued to fall, but not much.

But yesterday’s Nasdaq’s plunge has been transmitted to the New York Stock Exchange and other technology stocks. The Dow Jones’ performance is even worse. The index returned to the threshold of 10,000 points. Motorola, which was already in the quagmire of Iridium, led the decline and evaporated in one morning ten percent of market value.

Others such as AOL, Microsoft, etc. have also been dragged down, but generally... Fortunately, Oracle, Cisco, Sun, Intel, HP, Compaq, Dell and other software and hardware manufacturers that handed over their gorgeous annual reports last year have played a role of stabilizers effect.

Song Ya turned to think that she was just a false alarm yesterday, and the long-term judgment based on the beginning of the apocalypse must be correct, hold on, hold on! What is I afraid of! Just hold it!

"Boss, the Wall Street Journal wants to interview you."

"Zoe Barnes from the Chicago Tribune called..."

"Don't accept interviews from our own people?"

"Time Magazine..."

"Front Magazine..."

But after yesterday's plunge, Song Ya's personal situation has become more and more severe, even if he doesn't care about his wealth. The first is the public relations crisis. There are only a few well-known tycoons who cast a wide net to invest in Internet concept stocks. Paul Allen, the founder of Microsoft, bears the brunt of the crisis. His own black pharaoh, Alexander 'aplus' Song, may also be ranked in the top five...

With billions of net worth evaporated in one day, countless media racked their brains trying to interview these unlucky ghosts as soon as possible. Some may simply want to ask how they feel, and some hope that the tycoons will stabilize the market or turn to be bearish. Wind, anything goes, and now the casual chatter about the weather is big news material, which can arouse unlimited speculation in the capital market.

"Reject all of them, just say that I am temporarily inconvenient to accept interviews."

Although the Nasdaq is still doing well today, I still lost a lot of money. Amazon stock was bought last year during the record release war with Universal.

He kept clicking the mouse, looking for 'familiarity' to support his beliefs, his own opendiary, blog... no problem; Amazon, online shopping... no problem; yahoo, search, portals... no problem; already Aol-shaped icq, instant messaging...then aol is still fine.

"It's going to be fine! Just a technical adjustment!"

He brainwashes himself and cheers up stockbroker O'Grady.

Secondly, as more and more so-called friends tried to find him for news through various channels last night, he realized that there were so many acquaintances who followed suit in the stock allocation table that was exposed with the will back then. Political, business and celebrities of ethnic origin have a lot of trust in themselves, and they also drive institutional buyers such as ethnic minority funds and African-American charitable funds to enter the market.

Even if they are white friends or purely spiritual fans, there are quite a few people who follow suit.

If I talk about it to the outside world and sell it secretly, it will definitely arouse the disgust of the entire group, and the management of the people and the mass base for many years is very likely to be destroyed!

In addition, several websites that have been spun off and listed under Litman Media have already raised funds through the capital market. Fortunately, the plate is small and the lifting period has not passed, so there is no rush. The market value of the opendiary website is high. The six-month lifting period for the earliest IPO has passed. The founders Abelson and his wife are determined to continue cashing out. certain.

"Let the Abelsons wait a little longer. There will be an important economic data release in the afternoon. The Senate Finance Committee will also hold a hearing today. Mr. Greenspan, chairman of the Federal Reserve Bank, will attend and testify.

The old man has always firmly maintained the prosperity of the financial market. He said that "the stock market is not a barometer of the economy, but the economy itself." There will be improvement, and the US government is also anxious now. "

Song Ya asked Sloan to temporarily stabilize the Abelsons.

"It has to be undertaken. Where will the money come from?" O'Grady asked, "A loan?"

"No, you know I've never been willing to take big risks."

It's not that Tianqi has never deceived himself, after all, he still lacks confidence. Song Ya calculated all night alone last night, and now his eyes are red, "The stock allocation list in the will was circulated in 1997. Sloan and I I summed it up last night, during the period from 1997 to now, let’s sell some of my newly invested stocks.”

"ok."

O'Grady also knew that if the black pharaoh in front of him sneaked away the stocks in the configuration list, if it was exposed, many people who followed him in the past two years would hate him. The social perception is too bad, so he immediately tapped the keyboard to verify For a moment, "So it's Microsoft, aol, Amazon...We've cleared out Microsoft and some of the dot-com stocks that were doing badly, and we're left with aol, Amazon, etc..."

"Aol is the best, it hasn't fallen too much now, the value is enough, and I remember that after you cleared Netscape, you ate aol's back-to-back herbs in the open market. Because you didn't want to be laughed at by Jim Clark and the others, you chose to buy it secretly, very low-key, A large cash out will not arouse suspicion from the outside world.”

Sloan had an idea.

"Um."

Song Ya nodded, only the money from AOL is the most suitable to use, what a pity... "That's it!" He made a decision, and it happened that Jim Clark called yesterday with a strange yin and yang, hum! Then betray him again! Of course, it must be done quietly this time, no shooting!

"Are we going to do it this afternoon?" O'Grady asked again.

"Uh...don't, wait until after Greenspan's congressional testimony today."

In the afternoon, the whole world is staring at three things, one is of course the U.S. stock market, the second is the U.S. Department of Labor’s consumer price index for March, and the third is of course Greenspan’s presentation in Congress on yesterday’s plunge and the latest economic data. How to express your opinion.

Today’s data came out very late. There was still no news when the rice stocks closed. Nasdaq barely held the 100-point mark. This trading day fell 92 points, and the Dow Jones fell 200 points. It was another day of disappointment, but Overall much better than yesterday.

"coming!"

Sloan persuaded the Abelsons, and the three of them took a breather and stood in front of the computer. The U.S. Department of Labor finally released the latest consumer price index, which rose by 0.7% in March, 1% higher than expected. The core price index excluding food and energy rose by 0.4 percent, which was also 0.2 percent higher than the expected value of 0.2 percent.

"Isn't that high?"

Song Ya accidentally revealed his true nature again, his first instinct was' this is it! ? '

A numerical difference of 0.2 percent seems insignificant.

"Not too good, not too good..." O'Grady repeatedly explained: "Wall Street has always been very concerned about this core price index, and 0.4 is double that of 0.2."

"Let's watch the hearing."

The hearing of the Senate Finance Committee was very punctual, and Greenspan, the US economic emperor, arrived at the Congress with his briefcase as usual.

"Traditional U.S. stock markets may soon become uncompetitive..."

Unexpectedly, Greenspan suddenly launched an attack after a few words. The old man who always likes to talk about clouds and mist makes the outside world speculate endlessly. Be especially careful when using financial leverage..."

"The investing public must not be complacent. Policymakers cannot decide which trading system best meets the needs of investors, let alone guide the development of the stock market. Instead, they should ensure that these markets and their market participants compete fairly and efficiently..."

"It's never wise for policymakers to try to steer markets, and it's especially troublesome at this very critical time..."

Does this mean it can't be saved?

"It's over, it's over..." O'Grady rushed out of the study with his mobile phone to make a call like crazy. Song Ya is not the only client of his.

"Damn old thing! If you can't speak, talk less!" Song Ya also jumped up angrily, and yelled at Greenspan on the TV. It's fine if you don't save him. What's the answer? thing! ?

Of course the old man couldn't hear him, and continued to read the manuscript: "At present, there is no sign of inflation in the United States, but the high level of private consumption will increase the risk of inflation. Although many data show that the price of goods in the United States has quietly risen, but the US business From the perspective of the potential cost structure, the unit cost has not increased significantly, and the productivity of American labor has not risen rapidly, so that the inflationary pressure can still be effectively controlled. Regarding the recent violent fluctuations in the New York stock market, I think it is a high-tech The unpredictable characteristics of the industry are due to the large gap between the return on investment between technology stocks and traditional industry stocks, and have nothing to do with speculation or even the Fed's increase in interest rates. Such companies are at the forefront of technology , are always in turmoil, and therefore share prices are highly volatile..."

"Wealth fueled by the stock market is fueling consumer demand and has created economic imbalances..."

At this time, a senator interrupted him, questioning that monetary tightening policies such as the Fed's interest rate hike were the main factors that caused the financial market downturn. He replied: "The responsibility of the Fed is to solve the economic imbalance caused by the overheating of the stock market. The wealth effect caused by the soaring surge will cause consumers to be overconstrained, resulting in excessive consumption. The Nasdaq’s retracement is just a correction made by the market, but it is difficult to determine how far the stock price should be corrected..."

"Ah!" Sloan couldn't maintain the reservedness of an elite woman when she heard this, and uttered her trademark high-pitched voice to the TV, "Damn old man, you want me to go bankrupt!"

"What bankruptcy? What bankruptcy?"

Harley, who was banned from entering the study today, heard this sentence clearly, and was anxiously walking around outside the door.

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