The Chairman Of The Federal Reserve Delivered A Speech To Combat Market Confidence, And US Stocks Fell Down Collectively.

Powell, chairman of the Federal Reserve, made a speech on the current economic form on Wednesday. He said the epidemic had a high degree of uncertainty in the US economic outlook, significant downside risks, and continued weakness in the economy. He also called on Congress to launch more financial assistance. Powell's relatively passive remarks triggered a large number of investors selling, while the three major U.S. stock indexes closed down on the closing day, of which Dow Jones Industrial Average fell three times or more than 500 points. In addition, Powell hinted that the possibility of negative interest rates was ruled out. President Trump had asked the Federal Reserve to adopt negative interest rates in social media. On the data side, the US producer price index PPI in April set the worst performance record since April 2009, which supports economists' view that the United States will undergo a period of deflation.

U.S. crude oil inventories unexpectedly declined, experts believe that the oil market needs more positive news.

The US Energy Department report showed that the US crude oil inventories unexpectedly dropped by 745 thousand barrels last week. This is the first time that stocks have fallen since January this year, and oil prices have followed the news for a short time, and then dropped. Experts say the drop in stocks may mean the beginning of the recovery of the oil market, the market should be excited, and the market also needs to see more positive news. US crude oil futures remained above $25, while London Brent crude futures continued to oscillate below $30. In addition, gold futures rose to $1716.40 an ounce on Wednesday.

Europe's three largest stock index fell across the UK, the worst performance of GDP in March.

The three major European stock indexes all fell below, with the French Paris stock market and the German Frankfurt stock market falling by more than 2.5%. Economists from Kay said that the European stock market reversed the trend in April because people feared that the release of some countries would cause second waves of premature infection and the stock market pullback could last for weeks. Investors' concerns are reflected in the performance of tourism and auto stocks. Aston Martin, the British luxury car maker, fell 16%, and the company suffered heavy losses in the first quarter. European sales fell by nearly 30% due to the new crown pneumonia epidemic. Bank shares also slashed on Wednesday, with Deutsche Bank down 6.4%, which reported that the cost reduction would avoid a month's fixed salary for top management. On the data side, the UK GDP contracted 5.8% in March, the largest single month decline in history.