The year-on-year growth rate of PPI in the United States continued to hit a record high in December, but the growth rate was slightly lower than market expectations, indicating that the sharp rise in prices temporarily slowed down. Fed governor Brainard, who was nominated as vice chairman of the Federal Reserve, stressed at the relevant nomination hearing that reducing inflation is the Fed's top priority, saying that the Fed will use "strong" tools to lower inflation, of which interest rates are the main tool. It is also open to raising interest rates in March, believing that the Fed may raise interest rates as early as March in order to ensure that the pressure of rising prices does not get out of control.

Brainard, who had previously been seen as one of the most dovish Fed officials, analysts said her comments at the hearing marked an important shift in the position of an influential dovish member of the Fed.

After the announcement of the PPI, US bond yields accelerated their decline and prices rebounded further. The broader decline in intraday US stocks stimulated investment demand for US Treasuries. The benchmark 10-year Treasury yield fell 1.70% for the first time in a week, more than 10 basis points off the two-year high set on Monday. The decline in the dollar index widened and the Brainard hearing broke its lowest level since November last year, further breaking out of the 95 mark.

After the announcement of the PPI, all three major indexes of US stocks opened higher, but all of them fell during the Brainard hearing, and the Dow rose since then, but still failed to resist the downward pressure of several sectors led by technology stocks and resume the decline. Blue-chip technology stocks fell at least 1 per cent, while Tesla, Inc., who led the decline, widened to nearly 7 per cent in late trading. A number of hot Chinese stocks that have outperformed the market this week fell back, rising 10 per cent on Tuesday and JD.com fell more than 6 per cent. Industrial stocks have become one of the few sectors that have risen against the market. Last year, the best auto stocks in the United States continued to erupt, and Ford, which plans to expand electric vehicle production and was listed by Deutsche Bank as the first choice for auto stocks this year, rose nearly 6% in intraday trading, with a market capitalization of more than $100 billion for the first time.

European stocks were mixed, while pan-European stock indexes fell slightly. Taiwan Semiconductor Manufacturing Co Ltd's profits and income hit record highs in the fourth quarter and plans to expand production this year, supporting the automotive sector hit by lack of cores up nearly 2%, chip stocks up, and the prospect of rising interest rates. the banking sector led the gains, hitting a three-year high; but European and US bond yields went down hand in hand, defensive sectors fell, and health care and personal and household goods led the decline.

Some commodities that soared on Wednesday fell back. Us natural gas futures, which rose more than 14% on Wednesday, the biggest one-day gain in three years, gave up most of their gains. Lunchu, which led the rise in industrial metals, fell more than 1% on Wednesday and said goodbye to this nearly three-month high just above $10,000. Lunxi ended days of record highs; crude oil and gold also fell off two-month and this-month highs, respectively. However, nickel futures, an important material for electric car batteries, kept rising, and Lunni continued to refresh its 10-year high.

The Nasdaq ended three consecutive gains, S & P hit a three-week low, IT led the decline, Tesla, Inc. fell more than 6%, JD.com fell more than 6%

The three major U. S. stock indexes collectively opened higher and all fell in intraday trading. The Nasdaq composite index, the worst performer, turned lower about 40 minutes after opening, then continued to decline, falling nearly 1 per cent at the end of morning and expanding to more than 2 per cent in midday trading. The s & p 500 also fell when the Nasdaq turned lower, and although it rose at the end of the morning, it quickly resumed its decline in midday, and the decline widened, falling nearly 1.9% when it refreshed its session low in late trading. The Dow Jones Industrial average rose more than 220 points when it was at its high at the end of the morning. It fell short-term during the Brennard hearing in midday, then fell again after the hearing, and the decline widened, falling nearly 250 points at one point in late trading.

In the end, the three major indexes closed down collectively, all of which closed the biggest decline since last Wednesday on January 5. The s & p 500 closed down 1.42% at 4659.03, the lowest since December 21. The Dow closed down 176.7 points, or 0.49%, at 36113.62, and the S & P ended two days of gains. The Nasdaq closed down 2.51% at 14806.81 points, a new low since October 13 last year, and closed down for the first time in the last four days.

The small-cap stock index Russell 2000, which is dominated by value stocks, closed down 0.76% for two days in a row. The technology-heavy Nasdaq 100 index closed down 2.57%, the biggest decline since January 5, ending three days of gains and outperforming the market.

Only utilities up more than 0.4 per cent, industry up about 0.2 per cent and essential consumer goods rose on Thursday, while Microsoft Corp's IT sector, which fell more than 2.6 per cent, led the decline, followed by Tesla, Inc. 's consumer discretionary sector, which fell nearly 2.1 per cent, health care and communications services fell more than 1 per cent, and real estate, the smallest decline, fell more than 0.3 per cent.

Among the Nasdaq 100 stocks, Tesla, Inc. 's rival Lucid closed down more than 8.8%, cloud-based information security company Zscaler fell nearly 8.6%, Datadog, a monitoring and analysis platform for cloud developers, IT operations teams and business users, fell more than 7.6%, MRVL (MWT) fell more than 7.4%, and DXCM (DXCM) fell more than 7.0%. Ecommerce companies MercadoLibre Inc and JD.com fell more than 6%, while KHC and Coach Heinz (Kraft Heinz) rose more than 0.9%, beverage company Keurig Dr Pepper rose more than 1.1%, Seattle carmaker PCAR rose 3.0%, and BIIB rose more than 5.0%, recovering most of the ground lost on January 12.

Among the leading technology stocks, Tesla, Inc. closed down more than 6.7 per cent and performed worst. Of the six major technology stocks in the former FAANMG and now GANMMA, Microsoft Corp closed down more than 4.2%, Netflix Inc fell more than 3.3%, Amazon.Com Inc fell more than 2.4%, Alphabet Inc-CL C's parent company Alphabet and Meta, formerly known as Facebook Inc, fell about 2%, and Apple Inc fell 1.9%.

Among the volatile stocks, Virgin Airlines (SPCE), which plans to raise as much as $500m in bonds, closed down nearly 19%; Snap Inc (Snap Inc), who was downgraded by Cowen to flat market, fell 10.2%; while KB Home (KBH), which had better-than-expected quarterly results, closed up more than 16%; Taiwan Semiconductor Manufacturing Co Ltd (TSM), which also had excellent quarterly results, closed up more than 5%; and Ford Motor closed up more than 2% to a new closing high. Media said Boeing Co closed 2.9 per cent higher after the Boeing 737 Max resumed flights in China as early as this month.

Most popular US-listed stocks fell, with ETF KWEB and CQQQ closing down about 6 per cent and 4.7 per cent, respectively. Qutoutiao fell by more than 14%, Zhihu Inc. by more than 11%, Bilibili Inc. (Bilibili Inc.) and TAL Education both by more than 10%, New Oriental Education & Technology Group by nearly 8%, KE Holdings Inc. by more than 7%, JD.com by about 6.5%, HUYA Inc. by nearly 6%, Weibo Corp, iQIYI, Inc., Tencent Music, 360Digital by over 5%, Alibaba, Tencent ADR, Baidu and Pinduoduo by over 4%, NIO Inc Motor by over 3%, XPeng and 51job Inc by over 1%. Li Auto Inc. rose slightly.

As for European stocks, the pan-European stock index, which rebounded for two days in a row, closed slightly lower, but most of the major European stock indexes continued to rise, with the exception of French stocks which rose for two days in a row. Among the sectors, 10 closed down and 9 closed higher on Thursday. Personal and household goods down more than 1% and health care down more than 0.9% led the decline; cars and parts up more than 1.8%, banks up nearly 1.4% led gains, and technology rose 0.7%.

The yield on 10-year US bonds broke through 1.71% and hit an one-week low, while the yield on German bonds was far from its highest level in nearly three years.

European government bond prices continued to rebound and yields rebounded further. By late European trading, the yield on UK 10-year benchmark government bonds fell 3.5 basis points to 1.105 per cent, while German bunds fell 3.2 basis points to-0.090 per cent, falling to 0.1 per cent in intraday trading, far from Tuesday's high of-0.014 per cent since May 2019.

The yield on the benchmark US 10-year Treasury note hit 1.76% when the Asian market hit a new high in early trading and continued to fall since the European stock market. After the announcement of the PPI, US stocks fell below 1.70% in late trading, losing 1.70% for the first time since Wednesday, January 5, down more than 10 basis points from the high 1.8064% since January 2020, which rose above 1.80% on Monday. Us stocks were still below 1.70% at the close, down about 5 basis points on the day.

The dollar index hit another two-month low and is unlikely to rise again to 95, while the offshore RMB rose above 6.36 and fell in intraday trading after hitting a new high this month.

After falling below 95.00 for the first time in two months on Wednesday, the ICE dollar index (DXY), which tracks a basket of six major currencies, fell further, falling below 95.00 for most of Thursday, only after European stocks returned to this mark before trading and rose more than 0.1% during the day after the announcement of the PPI. Brainard once fell below 94.70 during the hearing, setting an intraday low since November 10 last year. It fell nearly 0.3% on the day.

By Thursday's close, the dollar index was below 94.90, down less than 0.05% on the day, while the Bloomberg dollar spot index also fell slightly, also continuing to hit its lowest level since early November.

The offshore renminbi (CNH) fell against the dollar and stopped its fourth straight rise, trading at 6.3645 yuan at 05:59 Beijing time, down 19:00 from late Wednesday in New York. It rose to 6.3573, the second consecutive intraday high and rose above 6.36 for the first time since December 31.

Crude oil fell to a two-month high, US natural gas fell 12% and gave up most of its gains on Wednesday, while European natural gas rose more than 13% to end four consecutive declines.

International crude oil futures fell after rising for two consecutive days. Us WTI February crude oil futures closed down 0.63% at $82.12 a barrel, falling to Wednesday's highest monthly contract close since November 9 last year, while Brent March crude oil futures closed down 0.23% at $84.47 a barrel, hitting a two-day high since November 9 on Wednesday.

European natural gas has rebounded strongly after falling for four consecutive days. On Thursday, ICE UK gas futures closed 13.88 per cent higher at 204.97 pence per kcal, erasing Wednesday's more than 5 per cent decline. TTF benchmark Dutch natural gas futures rose 13.47 per cent to 84.250 euros per megawatt in late trading, while European stocks rose to a daily high of 86.800 euros just before the close, erasing Wednesday's losses of more than 8 per cent.

Us gasoline and natural gas futures, which have risen for two days in a row, fell back. NYMEX February gasoline futures closed down 0.3% at $2.384 a gallon, while NYMEX February natural gas futures fell 12.08% to $4.2700 per million British thermal units, falling from Wednesday's high since Nov. 26, and rising more than 14% on Wednesday, the biggest one-day gain since November 2018.

Lunni rose five times in a row and hit a 10-year high, Lunxi fell to an all-time high, Lunchu bid farewell to the nearly three-month high, and gold ended four consecutive suns and fell off this month's high.

London base metal futures were mixed on Thursday. Lunxi, which rose for four consecutive days and reached an all-time high for two consecutive days, fell nearly $900, or more than 2%, to lead the decline among metals, but held the $40,000 mark. Lun Copper, which broke through the $10, 000 mark for the first time since Oct. 20, fell back on Wednesday, ending two days of gains. Lun Aluminum, which has risen for three days in a row, fell off a more than two-month high.

Lun Nickel rose for five consecutive days, hitting a more than 10-year high for the second day in a row. Lun lead rose for three days in a row, hitting a two-month high for two days in a row. Ren Zinc rebounded.

New York gold futures ended four days of gains in a row, the longest since November 12 last year. COMEX February gold futures closed down 0.3% at $1821.40 an ounce, falling off Wednesday's highest close since December 31. New York silver futures also closed down for the first time in the last five days. COMEX March silver futures closed down 0.2% at $23.162 an ounce, hitting a new high since December 31 on Wednesday.