Daily Outlook: Chinese concept stocks listed in the United States suffered the biggest two-day decline since 2008

The Sino-U.S. Tianjin talks continue to lash out, but it also leaves the possibility of a summit of heads of state:

Although the Chinese and American diplomats are fighting in Tianjin, it also leaves the possibility of a summit between the two heads of state. Chinese Vice Foreign Minister Xie Feng told visiting US Deputy Secretary of State Sherman during the talks on Monday that “China-US relations are currently at a deadlock and are facing serious difficulties.” According to Xinhua News Agency, Xie Feng presented two copies to the US during the talks. One of the lists is a list that requires the US to correct its wrong policies, words and deeds toward China, and the other is a list of key cases that China is concerned about. Sherman also held talks with Chinese Foreign Minister Wang Yi. A senior official in the Biden administration told reporters after the meeting that the purpose of Sherman’s visit was to set up a guardrail for the relationship between the two countries, not to negotiate specific issues. Although they call negotiations straightforward and professional, they can be difficult at times.

The market value of nearly 800 billion US dollars was lost in two days, and the Chinese concept stocks listed in the United States suffered the biggest two-day decline since 2008:

The storm of Beijing’s rectification hit the technology and education industries, and it also set off shock waves in the global market, causing the market value of Chinese companies listed in the United States to evaporate $769 billion. China on Saturday required discipline-based training institutions to uniformly register as non-profit institutions and banned their listing, financing and capitalization operations. The Nasdaq Golden Dragon China Index, which tracks 98 major Chinese companies listed in the United States, plunged 7% on Monday. Coupled with Friday’s 8.5% drop, the index has fallen by 15% for two consecutive trading days, setting a record since 2008.

The U.S. Foundation Establishment Act stagnated, and the Democratic Party’s proposal to resolve outstanding issues was rejected by the Republican Party:

The US Senate’s infrastructure bill negotiations suffered setbacks on Monday. Republicans rejected proposals from the White House and Democrats to resolve all unresolved issues, thus making Congress’s goal of passing a $579 billion infrastructure bill in doubt before the August adjournment. The Democrats’ proposal on Sunday night is aimed at resolving disagreements in terms of funding sources for highways, bridges, water, broadband, and transportation, the establishment of an infrastructure bank, and how much unused anti-epidemic funds can be used to pay for infrastructure projects. But a Republican who is familiar with negotiations said that the proposal attempts to reopen some of the issues that the two parties’ negotiators have resolved.

Bitcoin fell after hitting $40,000, and Amazon denied that it would accept Bitcoin payments this year:

Bitcoin briefly rose above US$40,000 and then fell below US$38,000 because Amazon denied that its recruitment of digital currency leaders meant that it would accept Bitcoin payments this year. Earlier Monday, Amazon’s search for an executive to develop the company’s “digital currency and blockchain strategy” hiring enlightenment sparked analysts’ speculation about whether this move might eventually lead to Amazon accepting Bitcoin as a payment method. As it approached 16:00 New York time, an Amazon spokesperson denied that the company would accept Bitcoin payments this year.

Bank of England Vlieghe: It is too early to tighten monetary policy:

Gertjan Vlieghe, a policy officer at the Bank of England, almost ruled out the possibility of supporting the reduction of central bank monetary stimulus measures in the short term, saying that he first wanted to see how the economy reacted in the face of the cancellation of government support measures. “Yes, the economy is growing rapidly, but according to recent data, there is still an average economic recession away from full employment,” Vlieghe said in his speech.

The German business confidence index has unexpectedly declined, and the risks facing the economy have intensified:

German business confidence unexpectedly declined in July, indicating that the market is concerned that supply bottlenecks and a rebound in the epidemic may slow down the recovery. The Ifo Institute German Business Confidence Index fell to 100.8 in July from 101.7 in June. Economists surveyed by Bloomberg had expected an improvement. An index measuring expectations fell to a three-month low, while the status quo index continued to improve.



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