Speaking at a video conference in Davos, US Treasury Secretary Yellen said forecasters believed that US inflation would fall substantially in 2023 and that inflation was a "reasonable policy concern", while the US labour market was "exceptionally strong".

Georgiyeva, managing director of the IMF of the International Monetary Fund, said that the Fed's interest rate hike could "throw cold water" on the global recovery, which would have a significant impact on countries with high dollar debt levels, and although she expected the global economic recovery to continue, she admitted that some momentum was being lost. The global "three mountains" in 2022 are rising inflation, the COVID-19 epidemic and high debt levels. It is recommended to maintain policy flexibility.

ECB President Christine Lagarde said the recovery was stronger than expected, the ECB did not see a "substantial rise" in wages or runaway inflation, and supply bottlenecks would stabilize this year, but must be open to changes in the inflation outlook. Geopolitical issues are "critical" to the economy and the ECB will act when conditions are met.

Japan's inflation is growing, with CPI rising 0.5% in December from a year earlier, rising for four consecutive months and maintaining its highest level in nearly two years since February 2020 for the second month in a row. Analysts believe that the Bank of Japan may soon send a signal to adjust monetary policy. However, Bank of Japan Governor Toshihiko Kuroda said that O'Michiro will put greater downward pressure on the economy and must continue to implement extremely loose policies.

The UK Gfk consumer confidence index fell from-15 in December to-19 in January, the lowest since February last year, as soaring inflation and the possibility of further interest rate increases by the country's central bank damped the consumer outlook. Retail sales in the UK fell 3.7 per cent month-on-month in December, far more than expected by 0.6 per cent. Many year-end holiday shopping has been advanced to October and November last year, and analysts still expect the UK to raise interest rates twice this year.

The S & P and Nasdaq posted the biggest weekly decline in 22 months, Netflix Inc the deepest decline in nine and a half years, and European stocks the lowest in a month.

On Friday, Jan. 21, after Netflix Inc started the earnings season for large technology stocks but got off to a bad start, geopolitical tensions in Russia and NATO over Ukraine, and multiple concerns about the Fed raising interest rates aggressively to curb inflation, American stocks jumped up and down and jittery. Risky assets generally fell, and safe-haven demand continued to push yields lower:

The three major stock indexes collectively opened lower, with the Dow briefly rising in the first 10 minutes of trading, with constituent stocks Nike Inc up more than 1.8 per cent, Intel Corp and UnitedHealth Group Inc also up more than 1 per cent. Then the Dow fell again, and the decline of the Nasdaq widened to 1.3% in the first half hour of trading. Ten minutes later, the S & P market decline widened to 1%, the Dow extended to 180 points, and the Nasdaq fell more than 1.6%.

In the first hour of trading, the Dow fell more than 100 points, the Nasdaq fell 200 points, the Nasdaq 100 fell more than 2%, and the constituent stock Nai fell more than 25%. An hour later, all three major indexes rose, with the Dow up more than 180 points, the S & P up 0.3%, and the Nasdaq rose 0.1%, boosted by essential consumer goods and utilities. The good times did not last long, U. S. stocks fell collectively again at midday, and the decline intensified in late trading, with the Nasdaq, which is dominated by technology stocks, the worst throughout the day.

Less than an hour after the close, the Dow fell more than 400 points, Walt Disney Company, a constituent stock, fell 7.2 per cent, and the S & P market fell 4400 points at one point, falling below its 200-day moving average for the first time since June 29th in 19 months, and the Nasdaq fell nearly 2 per cent again.

As of closing:

The S & P 500 index fell for four days in a row, falling across the board this week, closing down 84.79 points, or 1.89%, at a three-month low of 4397.94, down more than 8% from its all-time high, and closing below its 200-day moving average for the first time since 2020. It fell 5.7% for the whole week, the largest weekly decline in 22 months since March 2020, the worst weekly decline since the outbreak in Europe and the United States, and the longest consecutive decline period since September 2020.

The Dow also fell for three weeks in a row, falling for six consecutive days on Friday, wiping out all gains since December 2 last year, closing down 450.02 points, or 1.30%, at 34265.37 points, down 4.6% for the whole week, the worst weekly performance since October 2020.

The Nasdaq fell for four consecutive days, down 385.10 points, or 2.72%, to a seven-and-a-half-month low of 13768.92. It closed at 14000 points for the first time since June 9 last year, down more than 14% from its new high of 16057.44 points in mid-November last year. It was stuck in a technical pullback range; it fell 7.6% throughout the week, the worst weekly performance since October 2020, and the worst performance in the first 14 trading days of the new year since 2008.

The Nasdaq 100 index closed down 2.75% to a seven-month low of 144438.40, losing 15000 points for the first time since mid-October, down 7.5% for the whole week, the biggest weekly decline since March 2020. The Nasdaq biotechnology index fell 7.4% throughout the week.

The Russell 2000 small-cap stock index fell 1.8% on Friday, losing 2000 integer points, falling for four consecutive days to the lowest since early 2021, and down 8% for the whole week, the worst week since June 2020 and 18% above its all-time high. The panic index, VIX, rose more than 50 per cent throughout the week.

S & P's 11 sectors were almost wiped out, communications sector fell nearly 3.9%, optional consumption fell more than 3%, raw materials fell 2.5%, finance, energy and information technology fell 2%, and consumer goods were the only ones to rise. The Internet stock index ETF fell more than 4 per cent and led the US stock industry ETF lower, while the panic index rose more than 9 per cent to lead a rise in ETF, a major asset class.

Analysts pointed out that Treasury yields in Europe and the United States have risen sharply this week, and rising interest rates continue to exert downward pressure on technology stocks and high-growth stocks by reducing the attractiveness of future corporate profits. Investors turned their attention to the Fed's January FOMC policy meeting next week, with expectations that it could raise interest rates aggressively, shrink its schedule and raise borrowing costs this year, as well as volatile corporate earnings, geopolitical tensions around Ukraine, weak international economic data and rampant inflation, leading to a plunge in the stock market, dampening sentiment and risk appetite.

Ethan Harris, head of global research at Bank of America Corporation, said the biggest near-term risk for the global economy is that "the Fed is seriously behind the curve and must take inflation seriously". Morgan Stanley's economic team has adjusted its expectations for Fed policy, predicting that its accelerated tightening will plunge the S & P 500 index by 10 to 20 per cent in the first half of this year. Many bosses have warned that the "bubble" is about to burst, with economic growth slowing on the one hand and accelerating policy tightening on the other. 2022 will not be a smooth year for US stocks.

Jim Paulsen, chief investment strategist at Leuthold Group, believes that stock market sentiment has been depressed in the past few days, the driving force of fundamentals has been suspended, market action depends entirely on technical support, and fundamental factors such as bond yields, economic data and even earnings reports may not have much impact until the slump stops. Gene Munster, co-founder of Loup Ventures, said that the technology sector in Europe and the United States will always be tense until receiving the news from Apple Inc and the Federal Reserve.

FAAMNG star technology stocks created the worst week since the epidemic, with Facebook and Amazon.Com Inc joining the bear, Netflix Inc's biggest drop in nine and a half years:

Meta Platforms, the parent company of Facebook Inc's Yuan Universe, fell more than 4 per cent, the lowest in two days to eight months, down 8.7 per cent for the week and 20 per cent lower than the closing high in September last year to a technical bear market. Amazon.Com Inc fell nearly 6%, the lowest since July 2020 for four consecutive days, and closed below $3000 for the first time since mid-September 2020, down 12% for the whole week. It is down as high as 23% from its close in July last year. Apple Inc fell more than 1 per cent, falling for four consecutive days to the lowest level since December 3 last year, and fell 6 per cent for the whole week. Microsoft Corp fell nearly 2 per cent, losing $300 to a three-month low and 4.6 per cent for the week. The Alphabet of Alphabet Inc-CL C's parent company fell more than 2%, the lowest for four to half a year, and 6.5% for the whole week.

Video streaming giant Netflix Inc's revenue and profits in the fourth quarter of last year were better than expected, but the growth rate of subscribers slowed. Looking forward to user growth in the first quarter of this year, many big banks downgraded their target prices or ratings. On Friday, it fell as deep as 25.2% or nearly $130. it closed down nearly 22%, the biggest one-day decline since the 25% plunge on July 25, 2012, and the lowest since April 2020. It nearly erased all the increases after the outbreak in Europe and the United States, falling more than 24% throughout the week, the worst weekly performance in nine and a half years. Rival Walt Disney Company, a component of the Dow, also fell 7 per cent to its lowest level since mid-November 2020.

Tesla, Inc., who announced results next week with Apple Inc, fell more than 5 per cent on Friday to an one-month low and fell 10 per cent for the whole week. Ford, the best American stock in the transition to full electrification, fell 4.6% last year, falling for four consecutive days to the lowest this year, the deepest four-day decline since June 2020, and still rising more than 2% in a month. General Motors Co launched a new high-performance Cadillac Escalade V series "tanker" SUV, which fell 3.6% on Friday and fell for five consecutive days to the lowest since October 1 last year.

Chip stocks fell further in late trading. After falling 1.6% at the start of the session, the Philadelphia semiconductor index rose more than 2%, returned to 3500 points, closed down 1.7%, fell nearly three-month lows for four consecutive days, and fell nearly 12% for the whole week. AMD fell 2.5%, NVIDIA Corp fell more than 3%, all fell for four to three months the lowest, the whole week fell 13%. With the US House of Representatives nearing completion of legislation to support the chip industry with $52 billion, Intel Corp announced that he would invest $20 billion to produce advanced chips in Ohio, with the goal of building a large chip industrial park at a cost of $100 billion. It rose more than 1% against the market on Friday and stopped falling three times in a row, falling 6.5% for the whole week, but up more than 2% in a month.

Vaccine stocks fell. Pfizer Inc is down 2.3%, Modena is down more than 4%, and Novax is down more than 6%. Several studies have found that the effectiveness of hospitalization after injecting Modena and Pfizer Inc / BioNtech with a third dose of COVID-19 vaccine against infection with Delta and / or O'Micron is 90%.

Among the other key stocks:

Peloton, a US online celebrity interactive fitness stock, fell nearly 24 per cent yesterday, wiping out about $2.5 billion in market value and rebounding nearly 12 per cent on Friday. The company refutes media reports that the suspension of production of core sports equipment is not true, is resetting production levels and is considering layoffs to make the business more "flexible."

Other stocks benefiting from the epidemic are also in dire straits, with video conferencing software Zoom falling more than 5% and electronic signature company DocuSign falling nearly 7%, both falling for seven consecutive days to the lowest since early May 2020, and their market capitalization has halved from all-time highs.

IBM refocused its core business on cloud computing and agreed to sell Watson health's data and analytics assets to investment firm Francisco Partners, which fell more than 1% after rising nearly 1% at the start of trading on Friday, falling for five days and falling within a month.

Wind power company Siemens Gamesa's US stock fell 12%, supply chain restrictions triggered operating losses and cut its 2022 revenue guidance, dragging its parent Siemens Energy's US stock down more than 14%, while European stocks fell 13% and 16%, respectively.

Serbia revoked Rio Tinto PLC's lithium exploration license on the grounds of environmental problems, with US stocks falling nearly 3 per cent and British stocks falling more than 2 per cent, both off five-month highs.

The cryptocurrency leader plummeted in double digits, and the cryptocurrency exchange Coinbase fell as much as 16%, closing down more than 13%, the lowest since the listing. MicroStrategy, a business software maker hoarding large amounts of bitcoin on its balance sheet, fell nearly 18 per cent to the lowest level in more than a year.

China-listed stocks followed the market, and hot technology fell sharply, but Trip.com closed up more than 2%, and Gaotu Techedu Inc. Education rose 4.6%:

It is expected that the online market initially rose more than 6.5% to lead the Chinese stocks, but closed down more than 1%. Yueke e-cigarette, NetEase, Inc youdao, WUNONG NET TECHNOLOGY CO LTD and Jinshan Cloud disk initially rose more than 3%, closing down more than 1%, 2%, 5% and 6%, respectively, but Trip.com closed up more than 2%, and Gaotu Techedu Inc. Education rose 4.6%.

In the list of hot technologies, Baidu, Inc. fell by more than 3%, BABA by nearly 6%, JD.com by 4.6%, Tencent's ADR by 1.4%, Pinduoduo by 5.6%, Qutoutiao by more than 12% and iQIYI by nearly 10%.

At one point, Full Truck Alliance Co. Ltd. 's ADR fell by more than 7% and closed by more than 2%. Transportation new business type cooperated with the Joint Conference Office of the Ministry of Supervision to interview Full Truck Alliance Co. Ltd. and other Internet road freight platform companies to remind a number of ride-hailing platform companies.

New Oriental Education & Technology Group said the group is expected to record a net loss of $800m to $900m in the six months ended November 30, 2021, and the termination of business had a significant negative impact on total revenue during the reporting period, with US stocks falling 7.7 per cent to a 2013 low.

European stocks collectively closed down sharply, with all sectors and major country indexes falling. According to the media, Germany will lower its 2022 GDP forecast to 3.6 per cent, up from 4.1 per cent last autumn.

The pan-European Stoxx 600 index fell 1.84 per cent to its lowest in a month, falling 1.4 per cent for the week and three weeks in a row, with basic resources, oil and gas, tourism and leisure all down more than 3 per cent, and industry, finance, media, technology, banking and retail all down 2 per cent. The German and French stock indexes fell more than 2 per cent in intraday trading, while the German DAX 30 index closed down 1.94 per cent, down 1.76 per cent throughout the week. France's CAC 40 index closed down 1.75% and 1.23% for the week. Britain's FTSE 100 index closed down 1.20%, down 0.65% for the week. Italy's FTSE MIB index closed down 1.84%, down 1.75% for the week.

Risk aversion demand depressed yields on European and American government bonds, long-end US bond yields gave up their gains in the week, and German bond yields fell negative again.

The volatility of stock markets and risky assets came amid strong demand for safe haven, with government bond prices in major European and American countries rising on Friday.

The yield on 10-year US Treasuries fell as deep as 10 basis points during the day, with a daily low of 1.73%, and US stocks traded at 1.76% after midday. The yield on 30-year long bonds fell as deep as 9 basis points, falling as low as 2.05% per day, giving up all week's gains. Two-year yields, which are more sensitive to monetary policy, fell more than 6 basis points at one point, barely holding above 1 per cent, rising during the week, hovering around two-year highs on the eve of the epidemic.

Expectations that the fed is about to raise interest rates are strong, with 10-year Treasury yields above 1.9% on Wednesday, returning to levels on the eve of the outbreak. The interest rate bet also pushed the yield on u.s. 10-year inflation-protected bonds to-0.526% on Friday, the highest since June 2020.

Yields on UK and German government bonds led the decline today. The yield on 10-year German bonds fell 4 basis points to-0.065% in late European trading, falling nearly 2 basis points throughout the week, but turned positive on Wednesday for the first time in nearly three years. The yield on 10-year gilts fell 7 basis points in intraday trading, but rose more than 2 basis points throughout the week. Other European bond yields rose throughout the week, with Greek bond yields rising more than 16 basis points.

The profit led to the biggest daily decline in oil prices in a month, losing a seven-year high. Us Oil rose for five consecutive weeks and rose 2% with cloth oil for the whole week.

WTI March crude oil futures closed down 41 cents, or 0.48 per cent, at $85.14 a barrel, up 2 per cent for the week and up for the fifth consecutive week, having risen more than 6 per cent last week. Brent March crude oil futures closed down $0.49, or 0.55%, at $87.89 a barrel, up 2% for the week and 5% for the first two weeks. NYMEX February natural gas futures traded at $3.9990 per million British thermal units, down more than 6 per cent throughout the week.

The deepest intraday decline in WTI was $2.75, or 3.2%, the biggest one-day decline since December 20, with a daily low of $83. U. S. stocks returned above $85 after midday, hitting a seven-year high since October 2014 on Wednesday. The international Brent fell as much as $2.67, or 3%, on the day, the biggest drop in a month, falling as low as $85.71. U. S. stocks narrowed to 0.6% to hit a seven-year high of $89.50 after midday trading.

Analysts pointed out that due to concerns about supply constraints, international oil prices have risen more than 10% so far this year, and US crude oil and gasoline inventories unexpectedly increased sharply last week, prompting investors to take advantage of oil prices reaching a seven-year high.

Oil prices seem to be losing momentum, and the IEA of the International Energy Agency predicts that oil supply will soon exceed demand, with some producers producing at or above all-time highs. The White House also said efforts can be made to accelerate the release of strategic oil reserves.

But rising geopolitical tensions in many parts of the Middle East and Ukraine are likely to exacerbate short-term oil shortages. Bank of America Corporation expects Brent oil prices to rise to $120 a barrel by mid-2022. Speculators' bullish sentiment on crude oil hit a 10-week high in the week to Tuesday, according to the Commodity Futures Trading Commission (CFTC).

UK natural gas futures rose more than 5 per cent on Friday and narrowed down to less than 6 per cent throughout the week. Dutch natural gas futures, the TTF European benchmark, rose nearly 1 per cent to 79.3 euros per megawatt-hour in late trading, down nearly 5 per cent throughout the week. ICE EU carbon emissions trading permit futures fell 1.4 per cent to 84.11 euros per tonne, up nearly 3 per cent for the week. Electricity prices in Germany will fall by 10% in the coming month.

Safe-haven demand kept the dollar at its highest level in a week, the best weekly performance in a month, and the mainstream encryption currency fell sharply in double digits.

The basket dollar index (DXY), which measures the dollar against six major currencies, held steady on Friday, falling 0.1 per cent to 95.60, still close to its highest level in more than a week. Riskier currencies such as the Australian dollar and the New Zealand dollar fell, while safe-haven assets such as the Japanese yen and the Swiss franc strengthened.

The dollar index rose 0.5% throughout the week, its best weekly performance in a month since mid-December. The analysis points out that today, the US dollar is accompanied by a simultaneous decline in US bond yields, but it is a typical market risk aversion feature because of its positive performance against other risk-sensitive currencies.

Bitcoin, the largest digital currency by market capitalization, fell more than 11 per cent in 24 hours, losing $38000 at one point, its lowest level in more than five months since August and down more than 40 per cent from a high of nearly $69000 in November. Ethernet Fang, the second-largest, fell 14% to $2800. Analysts say encrypted assets have been hit by a double whammy of receding risk sentiment and rising global regulatory threats.

Gold hovered around a two-month high, silver had the biggest weekly gain in a year, platinum group metals were excellent, and Shanghai nickel and Lun copper rose 2% throughout the week.

COMEX February gold futures closed down 0.6% at $1831.80 an ounce, up about 0.8% throughout the week and rising for the second week in a row. But speculators' bullish sentiment on gold fell to a five-week low, according to CFTC data.

Spot gold fell as much as $11, or 0.6%, on the day, losing $1830 at one point and hitting a two-month high of $1847.72 on Thursday. Silver also fell today, but rose more than 6% throughout the week, the best weekly performance in a year.

Spot palladium rose 2.6% on Friday and 12% for the whole week, breaking through the $2100 integer figure, the best weekly increase since March last year. Platinum rose about 7% throughout the week, breaking the $1000 mark, its best weekly performance since June last year.

Inflation and geopolitical risks propped up safe-haven metals, with gold benefiting from lower US bond yields and strong demand for platinum group metals as catalysts for car exhaust, analysts said. Russia is a major producer of palladium and could limit supply if it is subject to European and American sanctions over the situation in Ukraine. ANZ said that the market is generally expected to improve the supply of semiconductors in the second half of the year, and the demand outlook for platinum group metals is good this year.

Most of the inner market futures closed higher at night, with iron ore and thermal coal up more than 1%, but coke fell 0.8% in the "three coal brothers" and coking coal fell more than 1%. At the same time, the main contract of Shanghai Nickel stood firm at 180000 yuan / ton, rising more than 2% in the day, continuing to set an all-time high.

The rise and fall of London base metals are mixed:

Copper for LME delivery closed 0.5 per cent lower at $9941 a tonne, halting two straight gains and missing the $10, 000 mark, but rose more than 2 per cent throughout the week, while US COMEX three-month copper fell 1.4 per cent on Friday. Analysts said risk aversion hit financial markets, investors took advantage of the opportunity to take profits, and copper prices were still supported by supply concerns, lower exchange inventories and China's aggressive monetary policy.

Lomalco fell 2.6 per cent on Friday to push $3000 a tonne, while Lenny rose 1 per cent or more to stand above the $24000 mark, hitting its highest level of $24435 a tonne since August 2011 on Thursday. Lunxi closed at $458 to $43955 a tonne, close to its previous all-time high of $44200.