nothing spectacular, averaging down little by little.

US stocks continued to be under pressure this week. The NASDAQ index fell more than 1%, falling for four consecutive days, and the S&P 500 index was not spared. Both fell to their lowest point in nearly two months. Among technology stocks, Google showed outstanding performance, rising against the market, while chip stocks generally suffered setbacks. Nvidia and Asmack fell by nearly 4% and 7%, respectively. Meanwhile, United Airlines surged 17% after its earnings report was released. In the European stock market, the technology sector fell by more than 3%. Despite this, LVMH and Adidas rose nearly 3% and 9% respectively after the earnings report, showing the strong performance of some individual stocks.
In terms of monetary policy, the New York Federal Reserve suggests that the Federal Reserve may stop reducing its balance sheet next year, and the scale is expected to shrink to 6 to 6.5 trillion US dollars. Furthermore, the Federal Reserve's latest Beige Book shows that although inflation is moderating, consumers are still very sensitive to prices. In the US bond market, 20-year bond auctions attracted strong demand, yet bid interest rates were close to the highest level in history. The 10-year US Treasury yield fell significantly from a five-month high, and the US dollar index stopped rising for five consecutive days.
In the commodity market, crude oil prices plummeted by more than 3%, the biggest one-day decline in three months. At the same time, gold also fell from a record high for four consecutive days. In terms of metal prices, the prices of copper and lentine have shown some elasticity, and both have rebounded.
In the Chinese market, despite global market turmoil, the China Securities Index fell for the third day in a row, but Xiaopeng Motors bucked the trend and rose nearly 4%. The offshore renminbi appreciated significantly, exceeding 200 points, reaching a one-week high. China A...