Times Square in New York, a global countdown attraction, has attracted more than 1 million people to celebrate the New Year.
Americans wished for world peace and economic growth in the new year, when many changes are expected with the launch of the second Trump administration.
Connect the reporters who are on the scene. Correspondent Lee Seungyoon!
[Reporter]
Yes, it's New York.
[Anchor]
New York, USA, must have just entered New Year's Day.
A million people celebrated the New Year in Times Square?
[Reporter]
Yes, it is.
Times Square itself is a famous tourist destination with 50 million visitors every year, but more than a million visitors are here to celebrate the new year.
The reason why so many people gathered in Times Square is to celebrate the New Year by watching the Ball Drop, which boasts a 120-year-old tradition.A six-ton crystal ball, adorned with 2,688 crystal triangles, descended along a column above the
One Times Square building, sparking a loud cheer as it lit up 2025 to symbolize the New Year.
The Americans I met hoped that various wishes, such as world peace, family happiness, and improved economic conditions, would come true in the new year.
Let's listen to it for ourselves.
[James / American] My hope in the New Year is to continue to bring positive energy to my life, to be with great people as I am, to be happy and to enjoy life.]
[Merba / American] I hope you are happy and want to get good grades at school. I hope America goes well, and I hope things go smoothly.]
[Anchor]
What is the U.S. economic outlook for the new year?
[Reporter]
With the AI boom and the first U.S. Federal Reserve rate cut in three-and-a-half years driving the market, the New York stock market hit a historic high in 2024.
In particular, the S&P 500 index, which consists of large New York stock markets, has become a symbol of "alone growth," with annual returns of 23% in 2024 and 24.2% in 2023.
However, on the last trading day of 2024, the three major indexes closed weaker all at once.
This is due to the expected pace of interest rate cuts in the new year and the continued selling to realize profits for the year-end settlement as the U.S. stock market has recorded an all-time boom.
In particular, the second Trump administration will be launched on the 20th of this month.
As Trump has predicted tariff bombs and illegal immigrant deportations, some predict that it will affect raising U.S. prices.
In addition, if the Trump administration's deregulation and strategic stockpiling are implemented, the cryptocurrency will continue to be strong, and in the case of Bitcoin, the price per unit will rise to $200,000.
In line with the era of the second Trump administration, the U.S. economy is expected to experience a major change in 2025.
I'm YTN's Lee Seungyoon from New York.
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