Rebirth of the Financial Crisis Sweeping the World

  Chapter 473 473 The gutter capsized

  Wang Guanxi said, “I don’t need to buy it for now, it’s enough.”

  At present, the Dow Jones Index is firmly established at 7900, and the market will close in less than 10 minutes. Then Wang Guanxi said: "After the market closes, we will release good news for the stock market."

   "Yes, BOSS" Wu Zhanhai looked at the Dow Jones index chart and said excitedly: "BOSS, the Dow Jones Index will definitely not fall, and it will definitely break through the 8000 position tomorrow."

  Wu Hongsheng also said: "Yes, the short power of the Dow Jones Index has been almost consumed by us. Tomorrow is the time for the bulls to counterattack."

  Li Guangyu asked: "I don't know who was shorting just now?"

  Wang Guanxi thought for a while and said: “It should be Soros, Feld, Milos Messi, or Wells, the new owner of the American Bank!”

Lu Jianyan said: "Wells, the owner of American Commercial Bank, has heard that he has made a lot of money on Freddie Mac, Lehman Brothers, and Washington Mutual Bank. This time he also made a lot of money on the Dow Jones Index. It is estimated that his heart is very swollen now, and he wants to increase his position and sell short!"

  Guan Zhenyi also echoed: "This Wells is indeed swelling. He actually dared to go short even when the Dow Jones Index fell so low, so he had to take his guts!"

  Lin Jiyang said: "This time we blow him up, the owner of the American Commercial Bank may be replaced by us."

  Wang Guanxi smiled and said: "This time I blasted Evan Cardinal, now it's Wells' turn."

  Huntington Bank CEO Stephen Steinor also said: "BOSS, the American Commercial Bank is in Buffalo, New York. If we can swallow the American Commercial Bank, we can expand our banking system to the eastern region."

Alan Fishman, CEO of Fifth Third Bank, also echoed: “The American-made commercial bank has a history of nearly 150 years and its main business is in the eastern United States. If we eat it, it will make up for the shortcomings of our business in the eastern United States. "

  Huntington Bank, the main business of Fifth Third Bank is in the central part of the United States, and there is basically no business in the eastern states.

Huntington is a regional bank with more than 600 branches, including 376 branches in Ohio, 123 branches in Michigan, 58 branches in Pennsylvania, 51 branches in Indiana, and West Virginia. 31 branches and 13 branches in Kentucky

The Fifth Third Bank has 15 subsidiaries, 1316 full-service banking centers, including 104 bank commercial centers that are open seven days a week in selected grocery stores, and are distributed throughout the Midwest and Southeast of the United States. There are 2425 ATMs in 12 states in the region and 12 states in the Midwest and Southeast of the United States.

  Basically there is no business in the eastern states of the United States.

  Wang Guanxi nodded: "It is true. The acquisition of American commercial banks is also a strategic need of our banking system."

  Currently, Wang Guanxi owns Huntington Bank, Fifth Third Bank, Silicon Valley Bank, East West Bank, and Bank of Hawaii.

  Huntington Bank, Fifth Third Bank's main business is in the central United States.

  Silicon Valley Bank, East West Bank’s main business is in the western United States.

  Hawai'i Bank's business is in the state of Hawaii, and also related to the island.

  Wang Guanxi’s banking system does not have much business in the eastern states of the United States.

  Thinking of this, he continued: "After we blow up Wells this time, we will acquire the American Commercial Bank!"

   "Yes, BOSS!"

  At this time, the Dow Jones Index actually started to plummet.

   plunged 100 points in 5 minutes, from the 7900 position to the 7800 position, and then closed.

  Everyone's complexion changed.

  Unexpectedly, the Dow Jones Index plummeted by 100 points at the close of the last 5 minutes.

  "BOSS, this, this, this is not good for us" Wu Zhanhai looked at the board very nervously.

  Wang Guanxi's face was a bit solemn.

  This time, the No. 1 Fund has made a total of 500,000 lots of the Dow Jones Index. The position of the position is around 7900, and a fluctuation point is a profit and loss of 5 million U.S. dollars.

  Now there is a loss of 500 million US dollars on the book, and there are still US$300 million in available funds in the account. If the Dow Jones Index drops another 60 points at the opening tomorrow, the No. 1 Fund will be liquidated.

   "This Dow Jones Index is really weak!"

  Wu Hongsheng asked: "Boss, do we want to add funds to it?"

  This time we made 500,000 lots of the Dow Jones Index, and spent 5 billion US dollars in margin. It was a very heavy position. Everyone thought that the short power on the Dow Jones Index had been exhausted!

  Unexpectedly, 5 minutes before the closing of the market, the Dow Jones Index plummeted by 100 points. If it plummeted by 160 points, the No. 1 Fund would be liquidated.

  Li Guangyu also said: "If the Dow Jones Index falls by another 60 points tomorrow, we will be liquidated."

  Wang Guanxi said: "Go and prepare funds immediately, mortgage Citibank’s stock, lend to Wells Fargo Bank, and then loan 1 billion U.S. dollars."

  The current situation is very unfavorable for Wang Guanxi. If the Dow Jones Index falls to the 7740 position, the trading account of Fund 1 will be liquidated.

  The long list of 500,000 lots is forcibly closed, then it is bad.

  You need to know that if a long list of 500,000 lots is liquidated, it is equivalent to shorting 500,000 lots in the market!

  It is conceivable that the Jones Index will fall by more than 300 points.

  At that time, it was possible that Wang Guanxi’s No. 1 fund would lose nearly $1 billion more.

  Wang Guanxi, who was full of confidence, is now a little flustered. He doesn't want to lose more than 1 billion US dollars in vain.

  I can’t overturn the boat in the gutter. Wang Guanxi said: “Look at the same time with Morgan Bank and Wells Fargo Bank. Call me right away and let the two banks prepare the funds.”

   "Yes, BOSS!" Stephen Steinough and Alan Fishman hurriedly went to do it.

  At this time, Lu Jianyan saw a piece of news and said, "BOSS, good news."

  Wang Guanxi asked: "What good news?"

  Lu Jianyan: "The US Department of Commerce just released an economic data report"

  Wang Guanxi looked at him and he was instantly happy.

  The US Department of Commerce also reported that US retail sales in June increased by 0.6% month-on-month, exceeding market expectations and the largest increase in 5 months.

  The report shows that the strong growth in auto sales in June has offset the impact of the decline in sales in many industries.

   Excluding auto sales, the US retail sales in June increased by 0.3% month-on-month.

  Due to the sharp increase in trading and underwriting profits, Goldman Sachs’s second-quarter profit was far better than analysts expected. Johnson & Johnson's profit fell by 3.5% in the last fiscal quarter, but this performance also exceeded market expectations. Johnson & Johnson rose by 51 cents to close at $58.23.

  The US Department of Labor reported that the producer price index (PPI) rose 1.8% month-on-month in June, exceeding market expectations.

  The performance of Goldman Sachs Bank also exceeded expectations.

  These are good news for the economy and the stock market.

  (End of this chapter)