Investor confidence in US stocks has yet to recover as a result of weaker economic data. Us stocks fluctuated before trading, with Dow futures falling 0.09%, S & P 2807 futures down 0.12% and Nasdaq 25547 futures down 0.32% to 7345 points.

Hot news

• The yield curve has regained since the yields on three-month and 10-year Treasuries have been inverted for the first time in 12 years. As of 17:50 Beijing time, the benchmark yield on US Treasuries rose slightly to 2.46 per cent, falling as low as 2.42 per cent on Friday. Meanwhile, the yield on three-month US Treasuries fell back to 2.45 per cent.

• The initial PMI of the US manufacturing sector in March was the lowest since June 2017, while the initial output sub-index fell to 51.6 points, the lowest since June 2016.

• Philadelphia Federal Reserve Chairman Huck said that it is good for the Fed to shorten the duration of its bond holdings. It is expected to raise interest rates at most this year and again in 2020. Huck is optimistic about the outlook for the US economy. The US economy is expected to grow by slightly more than 2 per cent in 2019. Chicago Fed President Evans said he needs to be nervous about the yield curve and is not expected to raise interest rates until the second half of 2020.
  

A Summary of Asian and European Stock Market

The Hong Kong stock market remained depressed throughout the day, while blue chips fell as a whole. By the close, the Hang Seng Index was down 2.03%. The national index fell 2.48%. It is worth mentioning that there was a net inflow of HK $3.234 billion from Hong Kong stocks.

A shares collectively opened lower and fell by more than 1%. The military industrial plate ushered in the rising and stopping tide, but the weighted plates such as insurance, liquor and securities firms continued to fall. By the close, the Prev index was down 1.97% at 3043.03 points; the Shenzhen Composite Index was down 1.80%; and the gem was down 1.48%.

The Nikkei 225 index closed down 3.01% at 20977.11, refreshing its lowest level since Feb. 15, the biggest one-day decline of the year, while South Korea's Seoul Composite Index closed down 1.87%, the biggest one-day decline since the end of October 2018.

Germany's DAX 30 index opened slightly lower and is now at 11364.75, roughly unchanged from Friday's close; the UK's FTSE 100 index fell 0.1% to 7197.99; and France's CAC 40 index was at 5264.89, roughly the same as last Friday's close.

Important news of Chinese stocks

$BABA (BABA.US) $：BABA, SUNING, Tencent and BABA invested 4.9 billion yuan to set up a taxi-hailing company with state-owned car enterprises. The T3 travel project jointly established by these companies is located in Nanjing Jiangning Development Zone, with a total investment of 9.76 billion yuan.

$YRD.US loan $：It was up 3.84% before trading.Pleasant loan released its results before the 25th session, with emphasis on: Q4 revenue in 2018 was 1.27 billion yuan, down 30% from the same period last year. The net profit of Q4 in 2018 was 330 million yuan, down 26% from the same period last year. It is worth noting that Cao Yang, a senior executive of the company, will resign as chief operating officer and chief technology officer for personal reasons.

$The9 Ltd (NCTY.US) $：It was up 76.98% before trading.Earlier, FF announced that it had signed an agreement with Nine cities to set up a joint venture company to produce electric cars in China, and Nine cities planned to inject up to US $600 million.

$JD.com (JD.US) $：Qixinbao data show that on March 22, the business scope of Shanghai Yuanmai Trading Co., Ltd., which is general manager of Liu Qiangdong, changed and new car sales business was added. JD.com previously launched the JD.com auto business's own brand "Jing'an Road", whose product line mainly includes lubricants, batteries, tires and so on.

$NIO Inc. (NIO.US) $：Li Bin, founder of NIO Inc. Automobile, released an internal letter setting development goals and key actions for the next three years after NIO Inc. 's outgoing employees revealed that NIO Inc. had made large-scale layoffs and sales fraud. At the same time, Li Bin also confirmed that the personnel will be optimized by 3% in the first half of the year.

Important news from American companies

$Apple Inc (AAPL.US) $：Apple Inc will hold a spring press conference at 1:00 Beijing time on March 26th, after Apple Inc has released a number of new products one after another. Apple Inc's online video service will offer subscriptions to Showtime, Starz, HBO and other video services at a price of $9.99 a month for a single video service, the Wall Street Journal has quoted sources as saying.

$Alphabet Inc-CL C (GOOG.US) $：Alphabet Inc-CL C's Youtube has cancelled plans to create high-quality original dramas and has stopped accepting promotions from producers, Bloomberg said today, citing people familiar with the matter. At the same time, the sci-fi series Origin and the comedy "overthinking of Kate and June" have been cut, so their producers need to find another partner.

$Tesla, Inc. (TSLA.US) $VIC issued a ten-thousand-word short report, the unitIt was down 2.07% before trading.Tesla, Inc. has raised the starting price of the Model Y, which is not yet on sale, by $1000 after raising the prices of several electric vehicles, including the Model S and Model 3, last week. In addition, the American value investor club VIC issued a ten thousand word short report on Tesla, Inc.. It involves many angles, such as weakening product demand, poor safety performance, huge funding gap, Tesla, Inc. CEO Musk or being removed from office, and so on.

$Walt Disney Company (DIS.US) $：As soon as Walt Disney Company's acquisition of 21st Century Fox assets was officially completed, there was news of layoffs. From the point of view of the retirees involved now, they are mainly the persons in charge of marketing and distribution business.