4E: The three major U.S. stock indexes fell, the volatility of the crypto market increased, and the market waited for tonight's CPI data

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According to ChainCatcher's report, ahead of the release of US CPI data, US stocks fell across the board, with the S&P 500 index closing down 0.30%, the Dow Jones index closing down 0.35% for the fourth consecutive trading day, and the Nasdaq closing down 0.25% after hitting a new intraday high. Large-cap tech stocks were mixed, with Tesla up 2.87% to a new three-year high, Google A up 5.59% for its biggest single-day gain since April. In the Altcoin sector, MicroStrategy rose 3.3% on speculation it may be included in the Nasdaq 100 index, while Coinbase fell 2.61%.

The cryptocurrency market experienced a sharp correction, influenced by Google's launch of the latest quantum chip Willow, which sparked discussions in the crypto community about quantum computing attacks. Bitcoin fell from around $100,000 to nearly $94,000, while Altcoins generally fell around 20%, making them the biggest decliners in the recent market. As of the time of writing, Bitcoin is hovering around $97,000.

In the foreign exchange and commodity markets, the US dollar index rose to a new one-week high, continuing its three-day rally; safe-haven demand and expectations of a rate cut by the Fed next week boosted gold prices, with spot gold rising over 1% to test $2,700; easing tensions in Syria and potential stimulus measures in major emerging markets supported market confidence, helping oil prices stabilize.

The market is currently focused on the release of the US November CPI data at 21:30 tonight, which will largely influence the Fed's interest rate path at its meeting on December 17-18. CME's FedWatch tool shows an 86% probability of a rate cut next week. eeee.com is a financial trading platform that supports Altcoins, stock indices, gold, and foreign exchange, and has recently launched a USDT stablecoin wealth management product with an annualized yield of 5.5%, providing investors with a potential hedging option. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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