1928: The Rise of Giants

Chapter 443 The polarity reversal

Speculators have tremendous trust in the big guys in the banking and financial world.

The news of the establishment of a special bailout fund had just come out, and before they even took any action, the stock price stabilized and began to rebound just after the news of their meeting came out.

Seeing the rebounding stock prices and the Dow Jones Index, Kong Xiangxi, Qiaojiao Sassoon and his son finally felt a little less anxious.

After the brief meeting, Ye Luo followed the large group of people back to the New York Stock Exchange.

Kong Xiangxi, who was mixed in the crowd, caught a glimpse of two Chinese faces among this group of financial bosses in suits and ties, with numerous bodyguards and entourages.

Ye Luo and Hui Xin.

The latter is the former president of Hongxing United Group, and is currently believed to have defrauded countless important military and political officials of the Republic of China. Her other partner, Liu Xuenong, has disappeared.

It's hard not to blame her for the massive equity losses caused by the stock market crisis.

But so what?

They were the ones who begged to join the Hongxing United Group at the beginning, and they were the ones who kept increasing their investment. Even later, when Ye Luo specially sent news that he felt that the stock market was about to collapse, no one listened to him.

Even Kong Xiangxi and others who did not trust Hongxing United Group took it upon themselves to work alone and were still trapped in the U.S. stock market turmoil and unable to extricate themselves.

Ye Luo Mingming is the biggest short seller and the initiator and executor of the smashing of US stocks.

The matter has come to an end for the time being, and these big guys are relieved and don't have to worry about being criticized by the president for this matter.

Ye Luo, who returned to the VIP room, immediately asked others to follow the trend and close part of their positions, successfully making a profit of US$14 billion.

In this era, there were no mobile phones, otherwise Livermore would have called frantically asking Ye Luo about his thoughts and intentions.

Richard looked back at Ye Luo in the crowd and found that he was smiling at him, so he smiled back.

Isn't it the short sellers who are the unlucky ones to pull U.S. stocks back from the brink?

Even if he wanted to switch to the Hoover faction, he would not be able to gain a foothold once this was exposed.

Even Franklin, who trusted him extremely, couldn't see through it.

When he proposed to buy 10,000 shares of U.S. Steel, he found that there were no longer 10,000 U.S. Steel shares in circulation.

And Yello's deeds of helping Hoover turn the tide at the meeting were also praised.

No matter what the purpose of this Chinese person was to suggest that bankers join forces to create a rescue fund, at least the final result was good.

Fortunately, the gods of Wall Street can still stop the storm.

It seems that Mrs. Dewitbucket has a strong backing.

Kong Xiangxi's eyes were burning, feeling that things were getting more and more difficult.

The market seems to be getting better.

Mrs. Dewitbucket and Ye Luoruo are very well-connected in the United States, so it is really difficult to touch him at will.

U.S. stocks have stabilized.

At 1:30 in the afternoon, Richard, the president of the New York Stock Exchange, walked into the lobby on the first floor as a representative of the Bankers Mutual Fund and took the initiative to bid to buy stocks.

This shows that before he came, a large amount of capital poured in to buy these high-priced stocks and completely stabilize the stock price.

He just made a symbolic gesture, came to the window, took the bill, and bought stocks from the traders just like the speculators.

The Song family is a pro-American faction. The principal can challenge other warlords and confront Wang in Jiangcheng because he has the support of Americans.

Ye Luo didn't explain.

Because market data will soon provide the answer.

Taking advantage of this small rebound, speculators gained confidence again, adding positions when they should, buying when they should, and buying the bottom when they should.

It seemed as if the dawn of victory was right in front of us.

Then 4 p.m.

These dreams were shattered once again.

These people underestimated the herd effect of US stocks and the psychological state of the vast majority of retail investors.

They also overestimated the ability of the financial sector and banking sector to rescue the market. Just after 4 o'clock, the Dow Jones Index fell again, and the decline was extremely obvious. In an instant, it fell to the thrilling price of 200 points, and then in full view of the public, it fell below the 200-point mark for the first time, reaching 192.4 points.

The prices of individual stocks also fell along with the broader market.

High-end stocks simply cannot withstand the impact of this bear market. Each one is more outrageous than the last. U.S. Steel, which Richard thought was quite safe just now, fell the most fiercely. Tens of thousands of shares were released on the market in an instant, and no one was willing to buy them. !

Ye Luo took advantage of the highest point of the rebound and reopened a position, shorting nearly 10 billion high-priced stocks, which also exacerbated the collapse of the US stock market.

Until 7:8 pm, night fell, and the sky outside the New York Stock Exchange was dark.

The ticker finally stopped printing quotes from the trading floor on the first floor.

As of today's close, trading volume on the New York Stock Exchange reached a new high for the first time, with nearly 1300 million shares changing hands, almost double the volume of the previous few days.

When the trading volume reaches 600 million shares, attention is already required, which means that the US stock market has become very unstable.

And when the trading volume increased to 1300 million shares, even the kid shining shoes at the door understood it.

U.S. stocks crashed.

Everyone is running away.

Although Richard and others came to rescue the market in the afternoon and even started to invest funds, the US$2.4 million invested in the rescue fund was like nothing, and could not make much waves.

Subsequently, crazy rumors that the U.S. stock market would completely collapse and that someone was shorting U.S. stocks spread rapidly among speculators.

There were even rumors that Hoover was behind the short-selling group.

Your Excellency the President is talking about bailing out the market, but in fact he is still luring people to invest money in it so that he and his groups can make money.

The New York Stock Exchange was completely shut down after the market closed, prohibiting all trading and additional work.

Marines were mobilized to New York and cordoned off the neighborhoods near the New York Stock Exchange.

Soldiers armed with live ammunition patrol the streets at night to prevent fanatics from causing harm to the New York Stock Exchange.

The New York Times reported overnight that eleven speculators have committed suicide in New York. Most of these people are middle class and have lost almost all their wealth in the stock market.

For the first time, the nights in New York became so hot and restless.

All kinds of lights are flashing, the rooftop is crowded with cursing speculators, and the casually discarded beer bottles may offend an innocent passerby.

But they don't care.

Because they know that tomorrow the situation will be even worse.

Everything they have is invested in the stock market. Maybe tomorrow, they will have no choice but to wander the streets of New York and become one of those tents.

Ye Luo hugged Lin Ruxian and Huixin back to their residence and played the game of stack high with them again.

I heard that Kong Xiangxi and Qiaojiao Sassoon jointly established a securities investment company. I didn’t need to think about the results of this company.

I hope Kong Lingjun’s father, the Minister of Industry and Commerce, has not invested all his family wealth in this.

As for the Sassoon family, their vitality was severely damaged after this battle. Ye Luo will be able to deal with it much easier in the subsequent business war in Shanghai.

As for Edward, his eight million US dollars were misappropriated by Liu Xuenong, and part of it was used as dividends to important military and political figures in the Republic of China. When this was exposed, he was furious and helpless.

I tried to find Liu Xuenong but couldn't find him.

Looking for Huixin, he doesn't have the connections or ability.

Find Hongxing United Group, which is now owned by Bank of New York.

He couldn't swallow this bad breath.

The decision was all put on Ye Luo's head.

The night was blurry, and the bodies of the two women kept rising and falling, their heads waving up and down.

Not far away, the Empire State Building in New York is still under construction. No one expected that this magnificent building would be built at such a moment.

When it was completed in 1930, it happened to be the most difficult period in the United States.

(End of this chapter)