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【introduction】wells fargo crashed during trading! another giant announced layoffs

on thursday, september 12, eastern time, the three major u.s. stock indexes all closed higher, with the s&p 500 and nasdaq both recording four consecutive gains. the ppi for august, which the market is concerned about, rose by 0.2%, in line with expectations. the european central bank announced another 25 basis point rate cut.

wells fargo plunged more than 6% during the session and eventually fell more than 4%. due to deficiencies in financial crime and anti-money laundering management, wells fargo was restricted from conducting new business by the top u.s. banking regulator.

the layoffs of giants continue. microsoft announced on thursday that it would lay off 650 people in its xbox division; south korea's samsung electronics is formulating a layoff plan, and the layoff rate of some overseas departments will be as high as 30%.

the european central bank cuts interest rates by another 25 basis points

as of the close, the dow jones industrial average rose 235.06 points, or 0.58%; the nasdaq rose 174.15 points, or 1.00%; and the s&p 500 rose 41.63 points, or 0.75%.