A18 EZ SU THE WASHINGTON POST.THURSDAY, AUGUST 1 , 2019
THE MARKETS6 Monitor your investments at washingtonpost.com/markets Data and graphics by
Note: Bank prime is from 10 major banks. Federal Funds rate is the market rate, which can vary from the federal
target rate. LIBOR is the London Interbank Offered Rate. Consumer rates are from Bankrate. All figures as of
4:30 p.m. New York time.2.1.1.2.10-year note
Yield:
5-year note
Yield:2-year note
Yield:
6-month bill
Yield:Treasury Performance Over Past Three Months8238.54 –1.0 +24.3003.67 –0.5 +19.27,140.98 –0.5 +16.Daily Stock Market Performance
Daily
Index Close % ChgYTD
% ChgNasdaq Composite IndexDow Jones Industrial AverageS&P 500 Index
3100285026002350
A JJMAMFJDNOS8400780072006600600027,26,24,23,21,Industry GroupDaily
% ChgDaily
% Chg –4.0%^0 +4.0%
Wireless Telecomm Svcs 3.
Distributors 1.
Air Freight & Logistics 1.
Diversified Telecomm 1.
Health Care Technology 0.
Diversified Consumer Svcs –1.
Construction Materials –2.
Metals & Mining –2.
Auto Components –2.
Automobiles –3.S&P 500 Industry Group SnapshotBank PrimeFederal FundsLIBOR 3-Month30-Year fixed mortgage15-Year fixed mortgage1-Year ARM2.27%
2.50%
5.50%
3.61%
3.19%
3.88%
Money market funds
6-Month CDs
1-Year CDs
5-Year CDs
New car loan
Home-equity loanConsumer Rates
0.
0.
1.
1.
4.
6.Interest RatesIndex Close Daily % Chg YTD % Chg
DJ Total Stock Market Index 30,850.44 –0.6 19.
Russell 2000 1561.45 –1.2 15.
Post-Bloomberg DC Area Index 622.93 0.3 32.
CBOE Volatility (VIX) 12.74 5.6 –49.Other MeasuresEuropeAmericasAsia PacificBrazil (Bovespa)
Canada (S&P/TSX Comp.)
Mexico (Bolsa)Eurozone (DJ Stoxx 600)
France (CAC 40)
Germany (DAX)
U.K. (FTSE 100)Australia (ASX 200)
China (CSI 300)
Hong Kong (Hang Seng)
Japan (Nikkei)CloseDaily
% ChgYTD % Chg
–30% 0% +30%
102,654.60 –1.
16,488.20 –0.
40,924.96 –0.389.52 –0.
5578.05 –0.
12,362.10 –1.
7489.05 –0.6818.03 0.
3851.07 0.
28,594.30 0.
21,756.55 0.International Stock MarketsDaily
Close% ChgDaily
Gainers Losers Close% Chg
Anika Therapeutics $52.60 28.
Diebold Nixdorf Inc $13.17 28.
Meritage Homes Corp $64.27 18.
NETGEAR Inc $33.27 17.
Visteon Corp $69.84 9.
Universal Forest $39.47 9.
FTI Consulting $103.38 9.
West Pharmaceutical $132.86 8.
World Wrestling $74.68 8.
Reliance Steel $101.09 8.
Knowles Corp $19.67 8.
Masco Corp $42.38 8.
Carter's Inc $98.99 7.
Echo Global Log $21.33 7.
Banc of California $15.48 6.
TechnipFMC PLC $27.98 6.
Anixter Intl $62.62 5.
Century Communities $27.31 5.
LKQ Corp $27.58 5.
Bristol-MyersSquibb $45.40 5.Align Technology $200.90 –27.
World Acceptance $123.04 –24.
Quality Systems $16.07 –21.
PTC Inc $72.90 –20.
Lantheus Holdings $23.11 –20.
Oceaneering Intl $15.64 –19.
LendingTree Inc $346.70 –16.
LSC Communications $1.53 –15.
Innoviva Inc $11.21 –14.
Trinity Industries $18.30 –11.
Unit Corp $6.66 –10.
Proto Labs Inc $97.53 –9.
SLM Corp $9.16 –9.
Varian Medical Sys $121.09 –9.
CoreLogic Inc $43.01 –8.
KLX Energy Services $16.42 –8.
American Airlines $31.67 –8.
US Silica Holdings $10.85 –8.
Nabors Industries $2.17 –8.
TTM Technologies $9.23 –8.Gainers and Losers from the S&P 1500 IndexDaily
% ChgYTD
Company Close % ChgDaily
% ChgYTD
Company Close % Chg
3M Co 178.13 –0.7 –6.
AmExp 127.15 –0.6 33.
Apple Inc 207.02 –0.8 31.
Boeing 348.09 –3.7 7.
Caterpillar 134.71 2.1 6.
Chevron Corp 125.63 –0.7 15.
Cisco Systems 56.62 –1.1 30.
Coca-Cola 53.07 –1.3 12.
Dow Inc 50.77 –3.
Exxon Mobil 74.93 –0.6 9.
GoldmnSchs 219.98 –0.9 31.
Home Depot 215.55 0.4 25.
IBM 150.39 0.2 32.
Intel Corp 52.16 –1.4 11.
J&J 131.12 1.0 1.JPMorg Ch 115.71 –1.0 18.
McDonald's 214.44 0.8 20.
Merck 81.75 0.0 7.
Microsoft 140.19 –0.4 38.
Nike 87.28 0.7 17.
P&G Co 112.77 0.2 22.
Pfizer Inc 42.67 –0.5 –2.
Travelers 148.49 –0.2 24.
United Tech 136.36 1.6 28.
UnitedHealth 248.70 –1.0 –0.
Verizon 56.36 0.7 0.
Visa Inc 181.59 –0.9 37.
Walgreen 54.76 –0.8 –19.
WalMart 112.22 0.2 20.
Walt Disney 143.21 1.4 30.Dow Jones 30 IndustrialsBrazil R$ perEU €per
Japan ¥ perUS $ perCanada $ per
Mexico $ perBritain £ perUS $ EU € Japan ¥ Britain £ Brazil R$ Canada $ Mexico $
1.1146 0.0092 1.2453 0.2645 0.7600 0.
0.8972 0.0083 1.1173 0.2372 0.6819 0.
108.6500 121.1000 135.3060 28.7340 82.5760 5.
0.8030 0.8950 0.0074 0.2124 0.6103 0.
3.7814 4.2147 0.0348 4.7084 2.8735 0.
1.3159 1.4665 0.0121 1.6386 0.3480 0.
19.0373 21.2187 0.1750 23.7077 5.0350 14.Cross Currency RatesExchange-Traded (Ticker) $Daily
% ChgValue of $1000 invested for the past: day month$900 $
Coffee (COFF.L) –0.
Copper (COPA.L) 0.
Corn (CORN.L) –0.
Cotton (COTN.L) 0.
Crude Oil (CRUD.L) –0.
Gasoline (UGAS.L) 0.
Gold (BULL.L) –0.
Natural Gas (NGAS.L) 0.
Silver (SLVR.L) –0.FuturesDaily
Close % ChgDaily
Close % Chg
Copper $2.7035 –0.
Corn $4.2750 –0.
Crude Oil $56.02 +0.
Gold $1,427.50 –0.
Natural Gas $2.24 +1.Orange Juice $1.0415 +0.
Silver $16.41 –1.
Soybeans $8.9975 –0.
Sugar $0.1200 –0.
Wheat $4.9950 +0.CommoditiesBY DAVID J. LYNCHA federal grand jury in Califor-
nia has indicted a Chinese billion-
aire known as “Big Boss” on charg-
es of smuggling enormous quanti-
ties of aluminum into the United
States and evading $1.8 billion in
anti-dumping duties.
Zhongtian Liu, 55, the former
president and chairman of China
Zhongwang Holdings, and several
co-defendants arranged for pho-
ny sales of aluminum to compa-
nies in Southern California that
he secretly controlled, according
to the May 7 indictment, which a
federal district judge unsealed
late Tuesday.
“This indictment outlines the
unscrupulous and anti-competi-
tive practices of a corrupt busi-
nessman who defrauded the Unit-
ed States out of $1.8 billion in
tariffs due on Chinese imports,”
said U.S. Attorney Nicola T. Han-
na in Los Angeles.
The scheme began as a bid to
dupe investors when China
Zhongwang started selling stock
to the public in 2009, the indict-
ment says, and later expanded
into an attempt to cheat the U.S.
government out of import duties.
Liu’s purported aim was to in-
flate the company’s market value
by making it appear to investors
as though there were a robust U.S.
demand for aluminum products
from China Zhongwang. The com-
pany, headquartered in Liaoyang,
in China’s industrial northeast,
raised nearly $1.3 billion in its
2009 initial stock offering in Hong
Kong, prosecutors said.
Liu, who was one of China
Zhongwang’s largest stockhold-
ers, arranged for aluminum ship-
ments to a number of California
companies that were ostensibly
independent but actually under
his control, the 53-page indict-
ment alleges.
Xiangchun Shao, a California
resident who managed those busi-
nesses under the name Perfectus,
also was indicted.
Liu owned or controlled alumi-
num companies in China, Viet-nam, Mexico and New Jersey,
along with several warehouses in
Southern California, the indict-
ment says.
The defendants funneled hun-
dreds of millions of dollars
through shell companies to the
California-based entities that Liu
controlled, prosecutors say. The
money, which Perfectus booked as
“loans,” was secretly returned to
China Zhongwang as payment for
the aluminum shipments, the in-
dictment says.
Liu and the other defendants
are accused of lying to the U.S.
International Trade Commissionand the Internal Revenue Service
about the financial arrangements
behind the shipments, according
to the indictment, which details
an elaborate conspiracy involving
2.2 million pallets.
“Because there were no cus-
tomers for these aluminum pal-
lets, defendants LIU and CHINA
ZHONGWANG would sometimes
cause emails to be sent to defen-
dant SHAO to enable him to cre-
ate fake purchase orders,” the in-
dictment alleges.
The indictment’s unsealing
comes as Treasury Secretary Ste-
ven Mnuchin and U.S. Trade Rep-resentative Robert E. Lighthizer
returned to Washington following
the latest round of trade talks with
China.
Negotiators reported little
progress after two days and have
agreed to meet in Washington in
September.
In 2011, after concluding that
China subsidized the production
of aluminum extrusions and
dumped them into the United
States at below-market prices, the
Commerce Department author-
ized duties of up to 374 percent on
future Chinese shipments of prod-
ucts such as aluminum pipes,
tubes, bars and rods.
The Zhongwang Group was
among the companies named in
that action.
But the duties did not apply to
finished products. So Liu and his
co-defendants arranged for the
aluminum to be spot-welded to
appear to be in pallet form before
shipping it to the United States,
the indictment says.
Liu then ordered the construc-
tion of facilities in the United
States designed to melt the pallets
into a form that could be sold
more easily, the indictment says.
His case is unrelated to the
25 percent tariffs that President
Trump imposed last year on im-
ports of Chinese steel and alumi-
num.
Liu also is accused of falsely
claiming in China Zhongwang’s
annual reports that the shipments
to the United States represented
sales to American customers; in
fact, the industrial metal was be-
ing stockpiled in warehouses he
controlled, the indictment al-
leges.
In mid-2015, when a short-
seller — an investor betting that a
company’s stock price will fall —first raised fraud allegations, Liu
denied any wrongdoing but ex-
ported the aluminum stored at
the California warehouses to Viet-
nam, the indictment says.
The Justice Department earlier
filed civil-forfeiture claims
against four Perfectus warehous-
es and more than 279,000 alumi-
num pallets seized by customs
officials. Those cases have been
stayed while the criminal pros-
ecution proceeds.Liu and the other individual
defendants face up to 465 years in
prison if convicted on all 24
counts of conspiracy, wire fraud,
money laundering, and passing
false and fraudulent papers
through a customhouse.
Prosecutors said none of the
individual defendants is believed
to be in the United States. The
United States has no extradition
treaty with China.
China Zhongwang, Perfectus
Aluminum and a subsidiary, and
four limited-liability corporations
controlled by Liu all face substan-
tial monetary penalties if found
guilty.
[email protected]Chinese man indicted on charges of smuggling aluminum, avoiding tari≠s
Billionaire is accused
of not paying $1.8 billion
in import dutiesBY ELI ROSENBERGThe fine print on the settle-
ment for the Equifax hack en-
sured that it would not be simple.
The company agreed to offer
people 10 years of free credit mon-
itoring or up to $125 if they were
among the 147 million Americans
whose data was stolen in 2017.
But there was a catch. Due to
the fact that the pool for the
settlement is capped at $31 mil-
lion, there was always a risk that
the payout would amount to less
than $125 if demand was high.
And on Wednesday, the Federal
Trade Commission announced
that the payout was probably go-
ing to be “nowhere near” that
amount after more than 4 million
people visited the settlement site
in the past week.
“The public response to the
settlement has been overwhelm-
ing,” it wrote in a Web posting.
“Because the total amount avail-
able for these alternative pay-
ments is $31 million, each person
who takes the money option isgoing to get a very small amount.”
The commission said it re-
leased the bad news to try to
encourage people to opt for the
free credit monitoring instead of
the cash payout.
“You can still choose the cash
option on the claim form, but you
will be disappointed with the
amount you receive,” the FTC
said.
The $700 million worth of set-
tlements hashed out between
state and federal authorities and
Equifax earlier this month includ-
ed $425 million to reimburse peo-
ple, in amounts of up to $20,000,
for losses incurred because of the
breach; $175 million to state at-torneys general; and $100 million
for the Consumer Financial Pro-
tection Bureau.
The pool of funds for the loss
reimbursements is still intact, the
FTC said.
The September 2017 hack was
one of the worst data breaches
ever, given the large number of
people affected and the volume of
personal data that was exposed.
One of the country’s three ma-
jor credit reporting bureaus,
Equifax plays a central role in
determining Americans’ finan-
cial futures, and news of the com-
pany’s breach touched off anger
across the country. The company
had failed to adopt even the mostelementary cybersecurity protec-
tions before the breach. After it
occurred, it took the firm 76 days
to discover it.
On Wednesday, dissatisfied
consumers quickly took to the
comments section under the
FTC’s announcement.
“This is unacceptable,” one
wrote. “The court and Equifax
knew there were 147 million
claimants. Why offer $125 per
claim and set aside only $31 mil-
lion? Did someone forget to do
the math?”
[email protected]Tony Romm contributed to this
report.FTC: Payouts in Equifax hack will be ‘nowhere near’ o≠er
‘Overwhelming’ response
means victims unlikely
to get full amountASSOCIATED PRESS
Liu Zhongtian, the former president and chairman of China Zhongwang Holdings, celebrates at the
company’s listing ceremony at the Hong Kong Stock Exchange in May 2009.“This indictment
outlines the
unscrupulous and
anti-competitive
practices of a corrupt
businessman.. .”
Nicola T. Hanna,
U.S. attorney in Los Angeles“You can still choose
the cash option on the
claim form, but you
will be disappointed
with the amount
you receive.”
Federal Trade Commission, in an
announcement to the 147 million
Americans whose data was stolen
in 2017 because of a breach at
Equifax, one of the country’s major
credit reporting bureaus