On October 16, local time, the three major U.S. stock indexes collectively closed down, with the Dow down 0.65%, the Nasdaq down 0.47%, and the S & P 500 down 0.63%.
Most popular technology stocks fell, with Tesla and AMD falling more than 1%, and Nvidia rising more than 1%. Cryptocurrency, rare earth concepts, and regional banking stocks were among the top losers. Chiang Bank fell more than 13%, HUT8 fell more than 9%, First Financial Bank fell more than 7%, and Circle fell more than 4%. Storage concepts, precious metals and mining were among the top gainers, with Jintian rising more than 6%, Est Gold rising more than 5%, and Pan American Silver rising more than 2%.
Nasdaq China Gold Range Index fell by 0.91%, the majority of the high-profile shares fell, the century's Internet connectivity fell by more than 5%, Qingdao cloud fell by more than 2%, Xiaoping Automobile, Qingdao, and Feng Shui fell by more than 1%, and the mile rose by more than 1%.
The FTSE A50 futures index closed down 0.34% at 15,097 points in consecutive night trading.
Bitcoin fluctuated and fell. As of October 17, Bitcoin reported at US$107,925.7, a decrease of 2.56%.
According to coinglass data, in the past 24 hours, a total of 208,860 people in the entire cryptocurrency network have liquidated their positions, with a total liquidation amount of US $733 million (approximately RMB 5.2 billion).
WTI crude oil futures closed down 1.36% at $57.46 a barrel. Brent crude oil futures closed down 1.37% at $61.06 a barrel.
COMEX gold futures closed up 3.4% at US$4,344.3 per ounce, and COMEX silver futures closed up 3.99% at US$53.43 per ounce, continuing to set a new closing high.
On the morning of October 17, COMEX gold opened to a high of $ 4,360 / ounce, repeating a new record high.
Currency gold reached a high of $4379.38, up $4367.30/ounce as of October 17, up 0.96%.
According to CBS, analysts pointed out that the current gold trading boom is partly backed by the expected heating of the Fed’s interest rate cuts, and at the moment, the U.S. federal government is still “stopping” and no one is sure when it will end, which means the U.S. economy may be shocked.
In addition, the global central bank’s money-purchase boom and the rise in gold ETF holdings have also fueled the rise of precious metals.Analysis notes that there is a trend now, whether global central banks, institutional investors or individual investors, to turn some of the money that was originally allocated to U.S. government bonds to gold.
Bank of America pointed out that the White House's "non-traditional policy framework" will continue to benefit gold, and factors including the widening U.S. fiscal deficit and rising debt will also push gold prices to continue to rise next year. In addition, Bank of America analysis believes that silver is about to usher in the fifth consecutive year of structural supply shortage, and tight supply may support silver prices.
According to media reports, on October 16, Beijing time, Federal Reserve Governor Milan said that the Federal Reserve should cut interest rates by 50 basis points, but it is expected to actually cut interest rates by 25 basis points. "There is no need to cut interest rates by more than 50 basis points. The difference in policy views between my colleagues and me is more about the speed of interest rate cuts than the ultimate goal."
Federal Reserve Governor Waller said that we can cut interest rates by 25 basis points first, observe the market reaction, and then obtain a clearer judgment on the policy path. The outlook for interest rates after October depends on the labor market; The neutral rate is about 100 to 125 basis points lower than the current federal funds rate.
According to CME "Fed Watch": The probability of the Fed cutting interest rates by 25 basis points in October is 96.3%, and the probability of cutting interest rates by 50 basis points is 3.7%. The probability of the Fed cutting interest rates by 25 basis points in December is 0%, the probability of cutting interest rates by 50 basis points is 85%, the probability of cutting interest rates by 75 basis points is 14.6%, and the probability of cutting interest rates by 100 basis points is 0.4%.
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