Commodities were nearly wiped out again after last Thursday. Among the closely watched commodities, the inner black and outer industrial metals fell together, and international crude oil, which reached new highs in recent years, fell again and again, and only the rebounded US natural gas and precious metal gold and silver were spared.

Chinese regulators continued to regulate and control some commodities under high pressure. The National Development and Reform Commission issued 16 documents in a row for nine days. On Wednesday, it said that it had carried out a special supervision on the price of the coal spot market. All the black commodities in the domestic market fell at night, and the "three brothers of coal" who fell by the daily limit fell again. Non-ferrous metals continued their daytime decline, and the night trading in Shanghai and tin fell to the limit for a time. Chinese intervention has also hit industrial metals in the outer disk, with both Len aluminum and Lunxi falling more than 5 per cent. According to the US Department of Energy, domestic EIA crude oil stocks unexpectedly rose last week. Media said Iran may resume negotiations on the Iran nuclear deal by the end of next month. Brent crude oil, US crude oil and gasoline all fell to seven-year highs, but US natural gas rebounded strongly by more than 5%, hitting a three-week high after Monday.

Affected by the decline in most commodities, the energy sector, which has led gains for days, led U. S. stocks lower. However, some of the tech giants that reported results did well. Alphabet Inc-CL C's parent company, Alphabet Inc-CL C, whose revenue reached a 14-year high and profits almost doubled in the third quarter, rose about 6.8% in intraday trading. Microsoft Corp, whose third-quarter profit was better than expected by strong cloud business, once rose about 5%, supporting the Nasdaq 100 index to reach a new high. In addition, Tesla, Inc., who temporarily suspended the trend of record highs on Tuesday, rebounded. Ford, which closed lower, jumped after reporting higher-than-expected third-quarter earnings and revenue and raised its full-year earnings guidance.

Germany, Europe's largest economy, has lowered its economic growth forecast for this year due to the continuing epidemic and tight supply. European stocks were also affected by the sharp fall in commodities and the performance of some companies, with mining stocks leading the decline, with French payments giant Worldline leading the decline in third-quarter results and guidance. Deutsche Bank, Germany's largest bank, fell nearly 7%, although quarterly earnings were higher than expected, but investors questioned its volatile trading advisory fees since its performance.

The UK debt management agency (DMO) cut bond issuance for the current fiscal year by 13 per cent, exceeding analysts' expectations, with benchmark 10-year gilt yields tumbling more than 10 basis points a day, losing the 1.0 per cent psychological barrier for the first time in more than three weeks, leading the decline in European government bonds, with 10-and 30-year gilts shrinking to their narrowest level since 2008. Us bond yields are also mostly down. At one point, the yield on the benchmark 10-year Treasury note fell to 1.52%, its lowest level in nearly three weeks. The market's expectations of a Fed rate rise in the next two years remain strong, and the yield on two-year Treasuries continues to rise, rising above 0.5% for the first time in a year and a half.

The dollar index fell from an one-week high and failed to hold the 94.00 mark. Gold and silver in precious metals rebounded on the back of falling US dollar and US bond yields, but gold failed to rise above $1800 again since Monday.

The Dow Standard & Poor's record high energy sector led the decline Alphabet Inc-CL C Microsoft Corp supported the NASDAQ 100th record high mining sector led European stocks lower

The performance of the three major US stock indexes varied, with only the Nasdaq composite index, which opened high in early trading, did not fall throughout the day, but the Nasdaq gradually gave up all its gains after rising more than 0.8% in midday. The S & P 500 and the Dow Jones Industrial average both opened lower. After the early rally, the S & P fell more than once in early and midday trading. The Dow rose for about half an hour and then turned lower, and then failed to reverse the decline. Both the late session and the S & P refreshed their session lows, down nearly 270 points.

In the end, the three major indices ended two consecutive days of collective gains. The Dow closed down 266.19 points, or 0.74%, at 35490.69, ending three days of gains and record highs. S & p closed down 0.51% at 4551.68, off its two-day closing high as of Tuesday. The Nasdaq edged up 12 points, almost flat, to 15235.84, its highest level since Sept. 9 for three consecutive days.

Small-cap stocks outperformed the market for two days in a row. Russell 2000, a small-cap stock index dominated by value stocks, opened low and closed down 1.9%. The Nasdaq 100 index, which is dominated by technology stocks, closed up 5.61%, generating a new high and outperforming the market for three consecutive days. The ratio of Russell 2000 to Nasdaq 100 fell to a six-week low.

Among the S & P 500 sectors, only communications services up more than 0.9 per cent and consumer discretionary goods up more than 0.2 per cent closed higher on Wednesday. Of the nine sectors that fell, energy led the decline by nearly 2.9%, followed by finance, materials and industry, which fell by nearly 1.7%, and information technology, which had the smallest decline, by nearly 0.2%.

Energy stocks of the s & p 500 closed lower across the board, while western oil companies and Phillips 66 led the decline by more than 5%. Chevron Corp, the Dow's only energy component, fell 1.8 per cent, while its arch-rival Exxon Mobil Corp fell 2.6 per cent.

Leading technology stocks varied, with Tesla, Inc. closing up 1.9 per cent. Among the FAANMG's six largest technology stocks, Alphabet, the best-performing parent company of Alphabet Inc-CL C, closed up nearly 5%, while Microsoft Corp, which rose more than 4%, both reached record highs. Microsoft Corp's market capitalization is about 2.43 trillion US dollars, approaching Apple Inc, which ranked first with 2.46 trillion US dollars. Amazon.Com Inc is up nearly 0.5%, while Facebook Inc is down more than 1%, Netflix Inc is down more than 0.8%, and Apple Inc is down more than 0.3%.

Among the stocks that reported results, Boeing Co (BA), whose third-quarter loss was higher than expected, closed down 1.5%; Texas Instruments Inc (TXN), whose revenue in the third quarter was lower than expected, fell 5%; despite better-than-expected income and profit, Visa Inc and General Motors Co (GM) fell nearly 7% and more than 5% respectively to become the Dow's worst performers; Robinhood (HOOD), which reported a much lower-than-expected third-quarter revenue on Tuesday, fell more than 10.4%. Despite strong results in the third quarter, Twitter (TWTR), which worries about expense guidance, fell nearly 10.8%; Enphase Energy (ENPH), which had the highest revenue in the third quarter, rose more than 24%; HOG, whose quarterly earnings and revenues beat expectations, rose more than 3%; and Coca-Cola Company, whose earnings and revenue beat expectations and raised its annual growth rate, rose more than 1.9%. Ford Motor (F), which closed down 2.7%, was up more than 5% after hours.

Most of the hot US-listed stocks continued to fall. ETF CQQQ and KWEB closed down nearly 1 per cent and 0.8 per cent, respectively. Xunlei fell by more than 9%, RLX Technology Inc. by more than 3%, TAL Education Group, Gaotu Techedu Inc. Education and NIO Inc. by nearly 3%, New Oriental Education & Technology Group by more than 2%, Weibo Corp by more than 2%, Li Auto by more than 1%, Pinduoduo by nearly 1%, JD.com by about 0.8%, Alibaba by more than 0.4%, Leju Holdings by more than 20%, XPeng and Tencent Music by more than 1%, Bilibili by more than 0.6%, and Tencent ADR by less than 0.1%.

As for European stocks, the pan-European stock index rose in a row at the end of three days. The European Stoxx 600 index, which was near an all-time high set on Aug. 13 on Tuesday, fell back. Stock indexes of major European countries fell. Among stocks, Worldline closed down 15.9%, with the biggest decline among the Stoxx 600 stocks, while Deutsche Bank closed down 6.9%. Only five of the Stoxx 600 stocks closed higher on Wednesday, with defensive utilities up about 1%, real estate up more than 0.7% and technology up more than 0.4%. Of the 14 sectors that fell, basic resources in the sector where mining stocks rose more than 1.9 per cent led the decline, followed by banks that fell more than 1.2 per cent, with oil and gas falling more than 0.8 per cent.

In the inner market, power coal fell 13%, Shuangjiao fell 12%, crude oil fell more than 2% a day for the first time in five weeks, natural gas rose more than 5% to a three-week high.

Domestic black commodity futures closed down at night. The "three brothers of coal"-- coking coal, coke and thermal coal-- fell by the daily limit, closing down 11.99%, 12% and 13.01%, respectively. Hot coil closed down 5.07%, thread closed down 3.92%, iron ore closed down 2.29%.

European natural gas fell collectively. On Wednesday, ICE UK natural gas futures closed down 1.35% at 218.59 pence per kcal, down for two days. TTF benchmark Dutch natural gas futures fell 4.45% to 84.850 euros per megawatt in late trading, giving up all Tuesday's gains.

Us gasoline and natural gas futures continue to behave differently. NYMEX November gasoline futures closed 2.7% lower at $2.45 a gallon, falling off the two-day high set on Tuesday since September 2014, while NYMEX November natural gas futures closed up 5.44% at $6.2020 per million British thermal units, refreshing Monday's high since Oct. 5 and closing above $6 for the first time since Oct. 5.

International crude oil futures all fell. Us WTI December crude oil futures closed down 2.35 per cent at $82.66 per barrel, while Brent crude oil futures closed down 2.10 per cent at $84.58 a barrel, ending three days of gains, and both fell off Tuesday's closing highs since October 2014 and closed down more than 2 per cent for the first time since September 20.

10-year Treasury yields hit a two-week low, two-year yields fell more than 10 basis points to a three-week low.

The price of European government bonds rose on Wednesday, with British bond yields leading the way down.

By late European trading, the yield on UK 10-year benchmark Treasuries fell 12.3 basis points to 0.986 per cent, while US stocks fell to 0.961 per cent at the start of the day, breaking the 1.0 per cent mark for the first time since October 4. The spread between five-year and 30-year gilts narrowed by 9.075 basis points, the biggest drop since March 2020, to 42.131 basis points, while the spread between 10-year and 30-year gilts narrowed to 14.210 basis points, the narrowest level since 2008. The yield on 10-year German bunds fell 6.0bp, the biggest one-day drop since late February to-0.178 per cent, and fell to-0.182 per cent in intraday trading, the lowest since October 14th.

The yield on the benchmark US 10-year Treasury note rose above 1.63% in early trading and rose more than 2 basis points during the day. European stocks dropped below 1.61% in early trading and then gave up all their gains and declines. it fell below 1.60% for the first time since Tuesday, October 19, and US stocks fell below 1.52% in midday trading, setting an intraday low of about 9 basis points on Thursday, October 14. By the end of the day, US stocks closed at about 1.53%, down nearly 8 basis points on the day.

Among all maturities, yields on only two-year Treasuries continued to rise on Wednesday. By late trading in New York, the yield on two-year Treasuries rose 2.76 basis points to 0.5029 per cent, returning to the 0.5 per cent psychological barrier for the first time since March 18 last year, rising as high as 0.5266 per cent.

The dollar index fell to an one-week high and failed to hold the 94 mark.

The ICE dollar index (DXY), which tracks a basket of the dollar's six major currencies, fell most of the day on Wednesday, with only European stocks rising in intraday trading, breaking above 94.00 on a short-term basis, approaching the intraday high set last Monday after breaking through 94.00 on Tuesday. U.S. stocks fell below 93.70 in early trading, down nearly 0.3% during the day, and the decline eased in midday.

By Wednesday's close, the dollar index was just below 93.90, down less than 0.1% on the day, while the Bloomberg dollar spot index was roughly the same as it was at Tuesday's close.

Shanghai tin fell nearly 8% at one point, Ln Aluminium and Lunxi fell by more than 5%. Gold rebounded but failed to recover $1800.

Domestic non-ferrous metals fell, Shanghai tin fell by 8%, closed down 7.79%, Shanghai aluminum closed down 6.21%, Shanghai nickel fell 3.54%, Shanghai zinc fell 2.61%, Shanghai lead fell 2.2%, and Shanghai copper fell 1.65%.

London base metal futures fell across the board for two days in a row. Lunxi fell more than $2000 a day, falling below $36000 for the first time in nearly three weeks on Oct. 7, while Lenovo both fell more than 5 per cent. Lunxi closed at its lowest level since Aug. 27 and closed below $2700 for the first time since Sept. 2. Lenny fell more than 3%, hitting a nearly two-week low. Lun copper fell below $9600 for the first time in two weeks, and zinc, which also hit a two-week low, fell more than 2 per cent.

Among the precious metals, new York gold and silver futures rebounded after two consecutive gains on Tuesday. COMEX December gold futures closed up 0.3% at $1798.80 an ounce, second only to the highest level since Monday when it broke through $1800 on Sept. 14, closing below $1800 for two consecutive days and briefly rising above $1800 after closing. COMEX December silver futures closed up 0.4% at $24.191 an ounce, coming out of an one-week low set on Tuesday. But platinum and palladium fell for two days in a row, closing down 1.3% and 1.5%, respectively.