On January 8, news reported that U.S. employment data exceeded expectations, and service sector inflation accelerated. These two data points severely dampened expectations for interest rate cuts by the Federal Reserve, with the market anticipating that the Fed may only cut rates once this year, below the two cuts predicted in the dot plot. According to 4E monitoring, after the data was released, all three major U.S. stock indices declined, reversing earlier gains. The S&P 500 index fell by 1.11%, the Dow Jones dropped by 0.42%, and investors took profits on large tech and chip stocks, with the Nasdaq plunging nearly 1.9%. Nvidia, after hitting a new high, plummeted by 6.22%, and Tesla dropped by 4%. Cryptocurrency stocks Coinbase and MicroStrategy saw their prices fall by over 8% and 9%, respectively. The cryptocurrency market also experienced extreme volatility against the backdrop of the U.S. stock market decline, with Bitcoin plummeting sharply after the U.S. stock market opened last night, dropping from above $100,000 to a low of $96,181, a decline of over 4.8% within 24 hours. The situation improved slightly in the morning, with prices slowly rising above $97,000, but the overall downward trend had not dissipated. Ethereum and altcoins fared even worse, with most experiencing declines of over 10%, leading to a significant retreat in market sentiment. On Tuesday, Bitcoin spot ETFs turned to a net outflow of $544 million after two consecutive days of large net inflows, marking the largest net outflow in nearly ten days. In the commodities forex market, U.S. economic data was better than expected, offsetting earlier dollar weakness caused by uncertainties surrounding Trump's tariff policies. The dollar index rebounded by 0.4%, moving away from a one-week low, hovering near a six-month high. Major oil-producing countries produced less than the OPEC+ output targets, supporting oil prices which rose by over 1%. The simultaneous rise in the dollar and U.S. Treasury yields limited gold price gains, with spot gold reaching a daily high of nearly 1.1% before narrowing its increase. Data released last night indicated that the U.S. economy is stronger than the market had anticipated, shifting the dynamics surrounding the Federal Reserve's interest rate direction from multiple cuts this year to whether there will be any cuts at all. The market expects a probability of over 95% that there will be no cuts in January, with some institutions even speculating that there will be no cuts before July. It is likely that the Fed will remain on hold this year, and if there are cuts, it may only be once. The market is filled with uncertainty, and risk assets are under collective pressure. eeee.com is a financial trading platform supporting cryptocurrencies, stock indices, commodities like gold, and forex, recently launching a USDT stablecoin investment product with an annualized return of 5.5%, providing investors with potential hedging options. 4E reminds you to be aware of market volatility risks and to allocate assets appropriately.