The chairman of the SEC is going to resign directly, perhaps because he is worried about being liquidated afterwards. This is the most severe blow to the cryptocurrency industry. On the one hand, it is good for the relaxation of cryptocurrency regulation. On the other hand, the US stock market is likely to change because of SMCI and NVDA.

SMCI and NVDA have financial problems, ASML's expected sales have plummeted, and the chip bull market is also going to be disillusioned.

SMCI is going to be delisted, and NVDA will release its financial report on November 20, which has exceeded expectations every time. Can it still maintain this?

In addition, the Fed's interest rate cut cycle has been extended, which means that the interest rate will be maintained at a high level for a long time, which will increase the pressure on the economy. The US stock market is likely to be at a turning point.