Morning Briefing, New York Stock Market was up… Gamestop 60 plunges, silver gifts plunge

◆ New York Stock Exchange, financial aid expansion, game stop situation’surge’… Dow, 1.57%↑

In the New York Stock Market, major indices rose all at once as expectations for stimulus measures and concerns over overheating in some stocks, such as game stops, subsided. On the 2nd (local time) on the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average rose 475.57 points (1.57%) to 30,687.48 compared to the battlefield. The Standard & Poor’s (S&P) 500 index rose 52.45 points (1.39%) from the battlefield to 3,826.31, while the technology stock-oriented NASDAQ index closed at 13,612.78, up 209.38 points (1.56%).

◆ Gamestop, AMC’s stock price plunged… Silver gifts also plummeted

The heat of the’game stop’ phenomenon is fading. Gamestop shares fell more than 30% on the previous day, and then about 60% on the same day. GameStop started with a plunge of more than 30% right after the opening, and after showing a slump all the way, it ended up dropping 60% from the previous day to close at the $90 range. The share price of movie theater chain AMC also plunged by more than 41%. The stocks that individual investors gathered around the online community Reddit declined at once. These stocks were stocks that focused attention due to the war between ants and dinosaurs (institutional investors).

Silver futures eventually plunged more than 10%. Silver futures for March delivery plunged $3.02 (10.3%) compared to the previous day, closing at $26.402 per ounce. It jumped 9.3% the day before and fell from the highest level since 2013. The Chicago Merchandise Exchange (CME) increased its margin by 18% from $14,000 to $16,500. When US ants raised silver prices by trying to short-squeeze silver futures by saying they were betting down by big players on Wall Street, the authorities responded and plunged.

◆ Bezos resigns from Amazon’s CEO in the third quarter… The successor is Jesse Andy

Jeff Bezos of Amazon, the world’s largest e-commerce company, resigns from Chief Executive Officer to become Chairman. On the 2nd (local time), Amazon announced last year’s results and announced that Bezos will resign as CEO in the third quarter of this year. The successor will be Andy Jesse, who is currently in charge of Amazon’s Cloud Computing Business (AWS). Bezos moves to chairmanship.

◆ Ho-Young Joo, Representative of the People’s Power, speeches to the National Assembly today

Ho-Young Joo, Representative of the People’s Power, is scheduled to make a strong criticism toward the government and ruling party through a speech from the parliamentary bargaining group representative today. Regarding the quarantine of the new coronavirus infection (Corona 19), the fact that experts and opposition parties have not been listened to, has come to this point, the corona 19 vaccine problem, and suspicion of the North Korean nuclear power plant are expected.

The power of the people will also begin voting and polling for members of the responsible party to determine the finalists for the Seoul and Busan mayors by-election. Party member votes and public opinion polls are held for two days from this day to the 4th. After that, the finalists are determined based on the combined results reflecting 20% ​​of party member votes and 80% of public opinion polls.

Preliminary candidates for the mayor of Seoul include Professor Kim Geun-sik, former Congressman Kim Seon-dong, former Congressman Na Gyeong-won, former Seoul Mayor Oh Se-hoon, former Congressman Oh Seung-Hwan, Lee Seung-hyun, Honorary Chairman of the Korea Foreign Business Association, Lee Jong-gu, former Congressman Cho Eun-hee, and Seocho-gu mayor. The preliminary candidates for the Busan Mayor are: Former Congressman Park Min-sik, Former Busan City Economic Vice Mayor Park Hyung-joon, Former Congressman Eon-Joo Lee, Former Congressman Lee Jin-bok, and Jeon Sung-Ha, LF Energy Representative.

◆ From the morning, it’s cold. Snow all over the country

Today, when the season is Ipchun, it will be chilly on the way to work in the morning, and snow will fall all over the country, mainly in the central region from the evening. Snow from this evening is expected to fall until dawn tomorrow (4th). 3~10cm of snow is expected in the western part of Seoul·Gyeonggi area, north of Chungbuk, and northeast of Gyeongbuk. In the eastern part of Gyeonggi Province and in Gangwon-do (excluding the east coast of Gangwon), a maximum of 15 cm of snow can accumulate.

The morning temperature is chilly in most regions of the country, except for Jeju Island. With Seoul falling to -9 degrees Celsius, most of the metropolitan area will show its headquarters around -10 degrees Celsius. In addition to the Yeongseo region of Gangwon-do, there are some places that fall below -20 degrees in the mountains. It is predicted that the maximum temperature during the day will be slightly lowered to 0-7 degrees Celsius.

Until now, I have been reporter Hana Kim.