Market Overview

According to US media reports, according to data from the Congressional Budget Office, the US federal debt will double to 202% of GDP in the next 30 years, greatly increasing the risk of a financial crisis in the United States.

The office expects federal debt to reach 102% of GDP by the end of 2021 and double by 2051. Such high debt levels could increase borrowing costs, reduce economic output and increase the risk of a financial crisis.

As of press time, the three major stock index futures fell before trading, with Dow futures down 0.48%, Nasdaq futures down 0.55%, and S & P 500 index futures down 0.54%.

China listed stock

• A number of Chinese stocks fell before the day, while TAL Education Group and New Oriental Education & Technology Group fell by more than 5%.

A number of Chinese stocks fell before the day. TAL Education Group and New Oriental Education & Technology Group fell by more than 5%, NIO Inc. by more than 4%, EHang Holdings Limited, youdao, Li Auto Inc. and XPeng Inc. by more than 3%, and Baidu, Inc. by more than 2%.

In terms of news, a few days ago, the Xinhua News Agency published an article entitled "these problems must be cured!" Focus on the hidden worries in the development of the new energy vehicle industry ", and point out a series of problems in the development of the new energy industry at present. The article mentions the axle breakage of the ideal ONE new energy vehicle, the power outage of Tesla, Inc. 's new car, the propaganda event of a well-known car company to make a breakthrough in battery technology, and some enterprises "building cars on paper".

Some people in the market judge that the huge contrast between production capacity and market value shows that the new energy vehicle industry has a certain degree of overvaluation in the capital market.

Tencent Music announced that it would buy back up to $1 billion worth of shares in the next 12 months. The company said it planned to fund buybacks from the existing cash balance.

Active US stocks before the day

• A number of investment banks weakened before the market.，Nomura fell more than 14% before trading.

Nomura Holdings fell more than 14% before U. S. stock trading on Monday, and the bank admitted to losing $2 billion in last week's fund explosion. For other big banks, Credit Suisse fell more than 10%, Goldman Sachs Group fell 1.93%, and Morgan Stanley fell 2.96%, which had been affected to varying degrees by the explosion of Archegos funds.

Earlier, it was reported that rumors of a "hedge fund manager Bill Hwang explosion" from Wall Street on Friday had spread to a number of securities firms. First, trading data showed that Goldman Sachs Group liquidated $10.5 billion worth of shares on Friday.

Separately, Credit Suisse said it and several other related banks would liquidate their positions because one of its US-based hedge funds defaulted on margin last week, and that the losses caused by the incident could have a "significant impact" on first-quarter finances.

• Tesla, Inc. was down more than 2% before trading and was downgraded by Jeffery.Target priceTo $700

Elon Musk, chief executive of Tesla, Inc., reportedly replied on Twitter on Friday morning that "I think Tesla, Inc. could become the largest company in the world", and then added in other responses that "it could be in a few months".

Musk's second tweet, which has been deleted but screenshots have gone viral on Twitter, seems to provide a guide to the growth of Tesla, Inc. 's market value.

In addition, Jeffery lowered the target price of Tesla, Inc. from $775 to $700.

• The block chain plate strengthened before the market, The9 Ltd rose by more than 9% and Canaan Inc by more than 7%.

Before the US stock market opened on Monday, The9 Ltd was up more than 9%, Canaan Inc was up 7%, Canaan Inc Mara was up 5%, and Ebang International Holdings Inc was up more than 2%.

On the face of the news, Bitcoin exceeded US $57000 per piece, rose nearly US $800 in the short term, and rose more than 2 per cent in the day.