It's so terrifying! I woke up to see everything plunging. The Dow Jones initially fell by 2.59%, setting a record for the longest consecutive single-day drop since 1974; the S&P 500 index fell by 2.95%, and the Nasdaq fell by 3.56%. Tesla (TSLA.O) dropped 8%, Broadcom (AVGO.O) dropped 6.9%, and Nvidia (NVDA.O) fell by 1%. The Nasdaq China Golden Dragon Index fell by 2.4%, Alibaba (BABA.N) dropped 2.4%, and NIO (NIO.N) fell by 4.7%.

After nearly a year of fervent rebounds in the financial markets, Federal Reserve Chairman Powell took a contrary stance on Wednesday, clearly expressing a cautious view on interest rate cuts in 2025, which left investors shocked.

About 90 minutes after the Federal Reserve announced its third consecutive rate cut, the market's decline at the end of Powell's speech was the most severe since the outbreak of the COVID-19 pandemic, and the message conveyed was clear: the rapid rise of risk assets over the past two years suddenly faced great uncertainty.

This turmoil proved how much confidence the market originally had in the continuous easing policies boosting asset prices. Now, as officials predict only two rate cuts within the next 12 months, those hopes have almost all been shattered, and investors can only pick up the pieces and contemplate their next steps. #币安Alpha项目公布