Hoffman is a trader at the New York Stock Exchange. He was gesturing and shouting to find a buyer, and when he secretly looked around, he saw that all the traders were already red-eyed, almost all of them were making "sell" gestures.

Hoffman's heart was cold, he had never experienced such a panicked scene. I can't help but think of the tidbit I once saw: "That Chinese kid predicted that there would be the biggest stock market crash in 29 years?"

At the time, I thought it was a joke, but now, Hoffman couldn't help but chrysanthemum: "This can't be true, right?" However, at this time, there was no time to think about anything else, and Hoffman immediately threw himself into the group of traders who were about to go crazy......

……

The massive sell-off in the New York stock market immediately led to a large number of stock index futures sales on the Chicago Board of Trade, which in turn spurred a massive sell-off of the New York stock market and a shortage of buyers.

At this time, the "power of high technology" began to appear, and there was a situation that made people vomit blood, that is, "portfolio insurance", a quantitative tool designed to use futures contracts to prevent market declines!

Originally, if someone wanted to make a trade, you needed to call the broker, then the broker called the company's trader, and the trader called the person in charge of trading a stock, and finally the trade was executed. The process is slow, cumbersome, and inefficient. However, with the development of computer technology, most of the steps have gradually taken over from human hands. Even today, almost every transaction is processed by some kind of algorithm, which is ultimately proposed by a computer and then executed by computers that interact with each other.

By the end of the 80s, however, computers were already heavily used in the US stock market. In order to prevent risks, the above-mentioned "portfolio insurance" has emerged. What are the advantages of this insurance? As soon as the stock market falls and the stop loss is triggered, the computer will automatically sell the stock to prevent excessive risk.

It should be said that the idea is very good, and the technology is much more advanced, but the result is that everyone is dumbfounded!

Within the first hour of trading, it was difficult to find buyers in the market, and the 95 blue-chip stocks, which account for about 30% of the benchmark stocks of the S&P 500 index, were unfilled, and due to the large number of sell orders, especially the sell orders that were automatically sold, and the few buy orders made people cry, the market price was forced to fall again and again to attract buyers. By 10:30 a.m., 11 of the 30 index stocks on the Dow Jones Industrial Average had not yet opened for trading, and in normal times, all of them would have started trading in less than five minutes after the market opened.

Since many stocks were not traded at all, the Dow Jones Industrial Average was not a true reflection of the actual market price, and the entire market was completely in a state of disorder. Trading volumes are constantly being refreshed, computer trading systems are slowing down, and the exact numbers for the Dow Jones Industrial Average and the S&P 500 are simply impossible to calculate.

As the stock market and the futures market drive each other, stock prices and futures indices are falling faster and faster, and trading volumes are starting to soar. In particular, the catastrophe was brought to a head by the large institutions of Wall Street, which traded heavily on both markets.

To add insult to injury, the backwardness of computer hardware equipment at this time has once again dealt a heavy blow to the market!

The computer system of the New York Stock Exchange was almost paralyzed on this day. At this time, there were 200 microcomputers on the New York Stock Exchange, and this system had never handled such a huge transaction.

When stock trading data floods into the computer, the computer can barely handle it. When sell orders poured in, the processing speed of the information system lagged far behind. Less than an hour after the market opened, the computer was 20 minutes slower than the actual trading speed due to the large number of sell-offs, and at noon, the Designated Instruction Translation System (DOT) in the computer system was about 75 minutes slower. Due to the lack of capacity in the DOT system, 120 million of the 396 million shares transferred to the DOT system were not executed.

……

Finally, at noon, after saying hello to his colleagues, Hoffman stuffed the hamburger on the table in a few sips, took a big sip of coffee, and walked briskly to the toilet. There is no lunch break in the New York stock market, and only a few traders can cooperate with each other.

As he walked, Hoffman glanced at the phosphor screen, but the price on the screen simply did not keep up with the actual market price. It actually shows that the Dow Jones Industrial Average is down only 3.78 points?

Hoffman knew it must have been a big drop, but now, even the data was completely distorted, so how could the trader judge?

……

Having lunch with Zhao Xia, Jing Jian's phone calls continued:

"Brother Xiao Jian, your New York stock market has plummeted. It was Guo Wenzhen who called happily.

Jing Jian remained silent, and secretly looked at Zhao Xia, who was eating pies: "Don't you sleep in the middle of the night? Don't worry, Hong Kong will be even worse than the United States." ”

"Really, really?" Guo Wenzhen cheered, as if she had forgotten that she was still trying to oppose it before.

"Hehe, of course it's true!I'm a genius!" Jing Jian said happily, "Okay, go to sleep!"

"I can't sleep! I'm so excited! Brother Xiao Jian......"

“……”

Finally hung up the phone, Jing Jian smiled and explained to Zhao Xia: "I am a stockbroker in Hong Kong. ”

Zhao Xia's face was also calm: "When will you get to know each other?" The sound is very good, do you have any pictures?"

“……”

Fortunately, at this time, the phone rang again.

"Bramble, it's been a big fall, you've been a big hit this time. Hahaha!" Caleb was the first to send the good news.

"You too, Caleb. Ha ha. Although it was expected by himself, it really happened on time, and Jing Jian's mood was quite happy, "You will also be famous on Wall Street." ”

"So what do you do next?"

"Go as planned!"

“……”

After receiving a few more congratulatory calls, under Zhao Xia's scrutinizing gaze, Jing Jian hurriedly changed the topic: "Hehe, I judged correctly, the stock market crash has happened." Now it's no problem to invest a few million dollars more in my hometown. ”

There are not many people who believe in Jing Jian this time, and even after Cao Haiyan got the money earned from Baodao, she was like a miser and was unwilling to follow Jing Jian's investment, so the feeling that everyone was drunk and I was sober was really wonderful.

However, Zhao Xia didn't care about how much money she could make at all, and saw through Jing Jian's weakness: "Anyway, if you go to Hong Kong in the future, I will accompany you." Xiaowa, you've made money, it's time to take care of it. Out of breath, just tossing is no result, why don't you have a child?"

“……”