Reborn in America, I'm serious about making money.

HSBC's stock opened sharply lower this morning, with the price dropping to around HK$10. This sudden plunge left many people wondering what had happened.

"Can anyone tell me what's wrong with HSBC?"

"I'm doomed, my retirement savings are gone!"

"So low? Let's buy some quickly. I reckon HSBC will issue a clarification later, and things will turn around."

About half an hour later, HSBC's stock found support at the HK$10 level, and many people started to buy. However, more sell orders appeared.

"Why is the trading volume so high? Could it be... Quick, sell it for me!" A middle-aged man, who had just bought over a million Hong Kong dollars worth of HSBC shares, suddenly realized something and told the trader next to him to sell them immediately. The trader replied, "Boss, that will incur transaction fees."

Although the trader said that, he still cleared out his positions. Just as he was clearing out his positions, the phone rang. He reached out and took it, listened for about ten seconds, and then handed the phone to his boss, saying, "Boss, it's for you."

The middle-aged man took the phone, listened for a few minutes, and then looked terrified. The news he had just heard on the phone was that at HSBC's board meeting, HSBC would set aside nearly $10 billion in bad debt losses, and that these losses might even increase.

Under such circumstances, it is not surprising that HSBC shares plummeted.

What does a bad debt of tens of billions of dollars mean? One US dollar is equivalent to 7.8 Hong Kong dollars. Although it is sometimes higher and sometimes lower, 7.8 is the basic rule in Hong Kong.

That 10 billion US dollars is equivalent to 78 billion Hong Kong dollars, which shows how enormous it is. At that time, although the US dollar was depreciating rapidly, it was still very valuable.

Now, HSBC, Hong Kong's financial magnate, which once held sway over the world, has suddenly been exposed by rumors of a $10 billion deficit; so it is not surprising that HSBC is being shorted.

As noon passed, rumors about HSBC continued to circulate, but no one from HSBC came out to clarify. Those who had originally planned to buy at the bottom were now starting to worry.

They just couldn't understand how HSBC could have lost so much money. Of course, they also felt it was fake news, and they weren't the only ones who thought so.

It's no wonder they think that way. HSBC is considered a blue-chip stock among blue-chip stocks in Hong Kong. There's a saying in Hong Kong: if you don't know which stock to buy, just buy HSBC, and you'll be set for life.

Thus, HSBC became the top choice for Hong Kong people, even more popular than CK Hutchison Holdings, because its stable dividends were very reassuring.

But now, when someone tells them that HSBC actually sold off US$10 billion and HK$78 billion in a year, how devastated they are. Some people have invested all their savings in it.

By the time the market closed in the afternoon, HSBC's stock had fallen to HK$3.5, a drop of 90%.

Shortly after the market closed, HSBC issued a statement: ...due to 9/1...the North American branch suffered a loss of nearly $10 billion...this is just a black swan event and cannot become the norm. We...hereby...

The news shocked the entire city of Hong Kong. No one could understand how such a listed company could ever suffer losses.

Following the daytime plunge, a climate of panic permeated the market.

People were filled with trepidation and anxiety. Every piece of news felt like a thorn, irritating their fragile nerves.

"I knew it would drop; I should have sold it during the day!"

"Is it too late to sell now? Won't we lose even more money?"

Such voices rose and fell. Everyone was talking about it, regretting not selling in time during the day, as if they had missed a golden opportunity.

The exchange was brightly lit and bustling with activity at night. Investors gathered together, their faces grave as they discussed future market trends.

"This plunge is just the beginning; HSBC's crisis is probably not over yet," an experienced investor analyzed.

"HSBC's share price will definitely continue to fall when the stock market opens tomorrow," another person chimed in.

In this tense atmosphere, some people decided to take advantage of the nighttime market closure to adjust their investment strategies. They inquired around for information and clues, hoping to find a glimmer of hope.

The overall situation is basically settled. A short-term rise is impossible. A loss of HK$78 billion is not HK$7.8 million, so of course a rise is impossible.

It's surprising that overseas securities firms didn't participate this time; the history of conflict between overseas financial groups and HSBC is quite long.

In the turbulent world of finance, the two financial conglomerates are like two giant ships, vying for supremacy. Their grudges and rivalries are intertwined with power, interests, and glory.

One is a traditional financial giant with a long history and deep roots; the other is an emerging financial challenger that has risen rapidly with innovative ideas and aggressive strategies. The two engage in fierce competition in the market, vying for customers, resources, and influence.

This contest extends beyond business operations to include talent acquisition and media warfare. Executives from both sides traded accusations in the media, escalating their verbal battle. Behind the scenes, however, a series of conspiracies and calculations were quietly unfolding.

However, this feud wasn't just about winning and losing; it also spurred change and development across the entire industry. In the competition, both groups continuously innovated and strengthened their capabilities, bringing new vitality to the financial market. At the same time, it also revealed the harsh realities and complexities of the financial world.

Amidst the turmoil in the financial markets, HSBC's share price plummeted like an avalanche, drawing widespread attention from investors. Panic spread, and selling pressure surged like a tidal wave, driving the share price down to astonishing levels. However, amidst this chaos, a group of overseas funds secretly accumulated shares. With keen insight, like sharks in the deep sea, they sensed a business opportunity.

These overseas funds, leveraging their extensive experience and substantial financial resources, swiftly purchased HSBC shares. They believed that the sharp drop in HSBC's share price was merely a temporary market fluctuation, and that the company's fundamentals remained solid. Their decisive action demonstrated their confidence in HSBC's future, as well as their keen market insight and resolute decision-making ability.

As overseas funds accumulated shares, HSBC's share price decline gradually slowed, and the market began to reassess the company's value. Investors speculated whether these overseas funds signaled an impending turnaround for HSBC. This interplay between the sharp share price drop and the overseas fund buying spree became a focal point of market attention, sparking heated discussions about HSBC's future trajectory.