As soon as this joint statement was issued, everyone wanted to know how the Nasdaq would perform tomorrow; biotechnology companies were bound to fall sharply.
Originally, with their technological patents, these biotechnology companies could have reaped immense profits.
Now that the patents were gone, and they were no longer the sole provider in the market, anyone with production capabilities could manufacture their products. This was undoubtedly a heavy blow to biotechnology companies that had invested heavily in R&D.
Now, investors in America were worried whether the sharp decline in biotechnology would drag down other sectors.
The Nasdaq was showing signs of topping out, with a clear divergence in its technical indicators. All of this indicated that a correction was imminent, with a small chance of sideways consolidation, leaving people filled with unease.
Bulls do not die, bears do not rest. A while ago, the bears were utterly depleted, and many had fallen during this Nasdaq bull run.
The Nasdaq had been surging at a forty-five-degree angle for the past few years, with virtually no pullbacks. The bears had been suffering, unable to make a living.
The bulls, on the other hand, had feasted and grown fat along the way. Tomorrow would mark the day for the bears to fight back.
"This Zhang Tianxing has some serious luck; he didn't get liquidated even with such a surge. His luck is truly incredible."
"I suspect he'll still get liquidated. Biotechnology will fall sharply tomorrow, but as long as internet companies hold steady, everything will be fine. There are plenty of high-tech companies; not many biotechnology companies are listed. The main driver still depends on internet and tech companies' performance; they will decide the trend of the Nasdaq."
Tomorrow was destined to be a remarkable day, a day to be etched in history, where an intense battle would unfold.
The bears were preparing for a full-scale offensive to reclaim the ground lost to the bulls.
The bulls would certainly not yield; who would willingly give up the fruits of victory?
Numerous stock commentators were citing evidence to support their views. It was truly taxing for these so-called experts and scholars, who took money and shouted loudly – it was basic professional ethics.
They would first establish a conclusion and then elaborate on it layer by layer, instilling hope in investors for the company's future and expanding on the market competitiveness of the company's new products.
This would lead investors to willingly pay for the company's soaring stock price.
At this moment, the investors were naive; most of them did not yet know that this bleak day was about to dawn.
...
The next morning, Zhang Tianxing, as usual, prepared his lessons and arrived at the classroom on time for his studies. John Fu glanced at Zhang Tianxing and nodded in approval.
Those destined for great things possess composure. At this moment, Zhang Tianxing exuded a calm demeanor, arriving at school to study despite knowing that today was a critical juncture for him.
This young man would undoubtedly achieve great things in the future, remaining unfazed even if Mount Tai collapsed before him. John Fu held Zhang Tianxing in very high regard.
Even if Zhang Tianxing lost everything in his shorting of the Nasdaq this time, John Fu believed that Zhang Tianxing would rise again and undoubtedly become a legendary figure.
Colin asked Zhang Tianxing with curiosity, "Aren't you going to take leave today to check on your stocks? Today could decide your fate."
The other students pricked up their ears, eager to hear Zhang Tianxing's response.
This time, Zhang Tianxing's answer changed: "The outcome is already decided. Whether I go or not will not change the result. Victory and defeat are already sealed; I don't need to be there."
The classroom fell silent, stunned by Zhang Tianxing's words. What kind of insight and magnanimity was this?
"Damn, how can Zhang Tianxing be so confident? He truly deserves to be the most handsome idol at Harvard. I've decided, Zhang Tianxing is my idol, and no one can question my judgment."
Colin looked at Zhang Tianxing and felt an immense pressure. They were all classmates, yet how could he be so outstanding, making them all seem like kindergarten children, merely serving as his backdrop?
The students were itching to know how the Nasdaq would perform today. Would it continue to climb relentlessly driven by sheer capital, or would funds rush to cash out at the first sign of trouble? The attitude of the capital would ultimately determine the Nasdaq's trend for the day.
At this moment, John Fu slowly entered the classroom, smiling broadly. "This morning's class is my finance lecture. We will watch the Nasdaq's performance later. I've rearranged the schedule."
"Yay! Long live the teacher!!"
Hearing the students' cheers, a ripple stirred within the usually calm Zhang Tianxing.
"Fine, let me witness this historic moment, to see if I'll be crucified on the pillar of shame, or if I'll strike it rich and soar to the pinnacle of life."
Everyone held their breath. Among those present were prodigies, including many who were well-informed.
"I've heard that the Wall Street funds have been unhappy with Zhang Tianxing for some time."
"Like the Quantum Fund?"
"Yes, those top few. Originally, both the short and long positions largely stemmed from these funds. Who would have thought that a Zhang Tianxing would suddenly emerge and steal their thunder, leaving them in a very passive position?"
"Zhang Tianxing's meager funds are nothing in the eyes of the Quantum Fund, right? A hundred million dollars is a colossal sum to us, but for a fund, it's mere pocket change."
"What do you mean?"
"My meaning is simple: as long as the Nasdaq rises even a little bit, Zhang Tianxing will lose all his capital. Do you think they'll let such an opportunity pass? They'd wish Zhang Tianxing dead."
Hearing this, Zhang Tianxing became indignant. Damn it, he had been so low-key, yet he still faced the envy of others.
He was the brightest star in the dark night, attracting attention wherever he went.
Time was up, and the US stock market opened. It was great; it opened lower. Would it be a low open followed by a continued decline, or a low open followed by a rebound? What happened next was unexpected: the US stock market plunged immediately upon opening.
John Fu's eyes lit up. "Students, look, all the biotechnology companies are falling sharply. See how trading volume is rapidly increasing? This indicates an outflow of profits."
Trading volume surged instantly, but shrewd investors smelled an unusual crisis.
"No, my God! It's all selling pressure, with very few buyers. Just a handful."
Seeing this situation, a continuous stream of sell orders appeared, with no regard for price, just a desperate desire to sell.
Someone exclaimed, "Damn it, this is a clearance sale! These shameless institutions are dumping their holdings!"
Upon hearing this conclusion, retail investors also stopped buying and instead placed sell orders, joining the bear army.
The bulls lacked the courage to even absorb the selling pressure; an onslaught of sell orders descended, severely wounding the bulls.
At this moment, everyone had only one thought: sell first. In just a short period, biotechnology stocks had plummeted by twenty percent.
Seeing this data, the investors' faces turned green.
Countless investors who had tried to catch the falling knife were weeping in regret. "Damn it, what's going on? These biotechnology companies have excellent earnings, so why is the stock price heading north without looking back?"
Newcomers die from chasing highs; veterans die from trying to catch falling knives.
They thought they were buying at the bottom, only to find themselves halfway up a mountain.
"I'll buy more. I'll use my savings. I don't believe the stock price has no bottom."
"Hahaha, the stock market is designed to cure all kinds of stubbornness. Let you know what 'bottomless' truly means."
Just when you think the stock price has hit bottom, the eighteenth level of hell appears, and the price plummets into that unfathomable abyss.
"I'm done. Damn it, I'm not buying anymore. Give me my money back."