After Federal Reserve Chairman Powell released the hawk yesterday that he would raise interest rates to the highest level needed to curb inflation, Chicago Fed Chairman Evans also supported hawkish action, hinting that the FOMC would raise interest rates by at least 50 basis points in June, reiterating his hope of approaching neutral interest rates by the end of the year. He believes that raising interest rates to 50 to 75 basis points above the neutral rate (2.25% Muay 2.5%) and maintaining them for a period of time will help to curb inflation. Next year, Huck, chairman of the Philadelphia Federal Reserve, echoed Powell's comments that he expected to raise interest rates by 50 basis points in June and July respectively.

While the United States has experienced a nearly 40-year high in inflation, Europe continues to be plagued by high inflation. Eurozone inflation remained at a record high of 7.4 per cent in April, while UK CPI consumer inflation rose to a 40-year high of 9 per cent in April, adding to action by local governments and central banks to calm price pressures. New car sales in Europe shrank for the 10th month in a row because of the supply chain crisis.

The European Union unveiled an investment plan of about 300 billion euros on Wednesday, hoping to reduce its dependence on Russian fossil fuels and take the opportunity to accelerate the transition to clean energy in the coming years, according to CCTV.

Worried about inflation and poor financial results, US stocks fell the most in the past two years, led by consumption and technology, the Dow lost thousands of points, and the Nasdaq fell more than 4%.

Investors assessed the hawkish statements of several Fed officials and economic growth prospects. After the top two retail department stores in the United States reported lower-than-expected profits due to high inflation and high costs in the first quarter, the stock market sell-off in Europe and the United States resumed. The dollar and Treasuries were boosted by safe-haven demand.

On Wednesday, may 18, pre-market u.s. stock futures fell sharply, with s & p 500 and Nasdaq futures both down 1%. Us stocks opened lower, with the Nasdaq down 1.5%, the S & P down 1.1% and the Dow down 0.8%.Then US stocks launched a "frenzy" that continued throughout the day.

In the first half hour of trading, the decline in the Nasdaq index, which is dominated by technology stocks, first widened to 2%. S & P's decline widened to 2% in the first 70 minutes of trading. In the first 100 minutes of trading, the three major indexes of US stocks all fell more than 2%. In the first two hours of trading, the Dow fell more than 700 points, the S & P fell more than 100 points, or 2.6%, the Nasdaq fell 330 points, or 2.8%, the Nasdaq fell 3%, Russell 2000 small-cap stocks fell 1.5%, and WTI fell more than 1%. In the first three hours of trading, the decline of the Nasdaq 100 widened to 4%, the S & P fell 3%, the optional consumer and essential consumer goods sectors fell more than 5%, and the technology sector fell 3.4%. Two hours before the close, the Dow plunged more than 1000 points, the Nasdaq 100 fell 5%, the S & P fell 4%, and remained until the close.

In intraday trading, the Dow was down 1260 points or 3.9%, losing 32000 integer digits. The S & P market fell nearly 178points, or 4.3%, to 4000 points, with all 11 major sectors falling. The Nasdaq fell 603 points or 5%, and the Nasdaq fell 677 points or 5.4%, losing 12000 points. Russell 2000 small-cap stocks, which account for most of the value, fell 4.1 per cent and lost 1800 points.

By the close, the Dow had stopped rising for three straight days, falling for the first time in four trading days, hitting its lowest level since March last year. The s & p, the Nasdaq and the Nasdaq 100 all fell from yesterday's highs since may 6, with s & p hitting an one-year low and approaching a bear market again (down 18.6% from a 52-week high). Nasdaq and Russell small-cap stocks nearly erased all gains since last Thursday, and the Nasdaq 100 refreshed its lowest level since November 2020:

The Standard & Poor's 500 index fell 165.17 points, or 4.04%, to 3923.68, its biggest one-day drop since June 2020. The Dow closed down 1164.52 points, or 3.57%, at 31490.07, its biggest one-day decline since June 11, 2020. The Nasdaq closed down 566.37 points, or 4.73%, at 11418.15 points, the biggest drop since May 6. The Nasdaq 100 index closed down 5.06% at 11928.31, the biggest drop since may 5th.

SPDR S & P retail ETF fell more than 8 per cent, while essential and optional consumer goods sectors both fell more than 6 per cent.

Star technology stocks fell sharply. "Yuan Universe" Meta fell more than 5%, the first drop in five days, Amazon.Com Inc and Netflix Inc fell more than 7%, both gave up their gains this week. Apple Inc fell 5.6 per cent to its lowest level since early October last year. Microsoft Corp fell 4.6 per cent to its lowest since June last year. Alphabet, Alphabet Inc-CL C's parent company, fell nearly 4 per cent to its lowest level since April last year. Tesla, Inc., who lost the ESG version of the s & p 500, fell nearly 7%, pushing down $700 in integer digits, the lowest since last august.

Chip stocks also fell sharply collectively. The Philadelphia semiconductor index fell more than 5%, losing 3000 points and pushing down 2900 points, giving up most of its gains since Thursday. Intel Corp fell 4.6 per cent to its lowest level since October 2017. AMD fell more than 6%, falling from an one-month high set yesterday. Invida fell nearly 7%, giving up its weekly increase. Software stocks fell the most among technology stocks, with their overall market capitalization halving from their peak last autumn.

Cisco Systems, a computer network equipment giant, expects revenue to decline in the second quarter of 2022, while analysts expect growth. CEO says supply, not demand, is the main reason for future revenue decline. The after-hours drop of 20% was the deepest in the company's history.The ETF QQQ of the Nasdaq 100 fell 0.5% in after-hours trading. Analysts say high inflation and poor results are scaring investors.

Target Corp, the second-largest US retail department store group, reported a thunderstorm in the first quarter, with supply chain problems, rising fuel costs and lower-than-expected sales of non-essentials in an era of high inflation all undermining profitability. intraday losses of more than 26 per cent were the worst since Black Monday in October 1987, closing down nearly 25 per cent to the lowest since October 2020, wiping out most of the gains since the epidemic and widening the decline for the year from 7 per cent to more than 30 per cent.

Walmart Inc, the largest US retailer with the worst performance since 1987, fell more than 11 per cent yesterday, falling nearly 7 per cent on Wednesday, the lowest since July 2020. Walmart Inc's quarterly report yesterday also reflected profits squeezed by rising costs and high inflation.

Dollar Tree, a cheap department store with 100 shares in the Nasdaq, fell by more than 14%, and Costco Wholesale Corp's Costco fell by more than 12%. Dollar General, Buffett's favorite cheap department store last year, fell more than 11%. 3C retailers Best Buy BestBuy and Macy's fell more than 10%, Cole Department Store fell more than 11%, and home decoration retail giant Lowe's Companies Inc fell more than 5%. Cold weather put pressure on Americans' demand for outdoor products in the first quarter.

However, TJX Companies, the parent company of TJ Maxx, a discount retailer for clothing, fashion and household goods, rose more than 7% and reported a better-than-expected profit in the first quarter. Many analysts point out that there are obviously some retail industry-wide or macro problems, and companies that rely on household consumption and discretionary spending may continue to be under pressure. because a lot of non-essential consumer spending goes to food and energy in an era of high inflation.

Another stock that rose significantly against the market was California brand and content management company Genius Brands International, which rose nearly 35% at the start of trading, the highest since April 6, and closed up nearly 13% to an one-month high. The company signed a 20-year contract to sell the name and portrait license of Stan Lee to Marvel.

In addition, in the tug-of-war over whether Twitter can be successfully acquired by Tesla, Inc. CEO Musk, Twitter fell another 3.8 per cent to a two-month low, erasing all gains since Mr Musk disclosed his stake in Twitter in April earlier this week. Mr Musk said Tesla, Inc. did not need to borrow, so the rating had no impact on the company. Twitter asked Musk to honor its legal commitment to buy for $54.20 a share.

Hot Chinese stocks fell along with the broader U. S. stock market. Both ETF KWEB and CQQQ fell about 3 per cent, while the Nasdaq Golden Dragon China Index (HXC) fell 2.5 per cent. Among the four constituent stocks on Nasdaq, JD.com fell 4.6%, Baidu, Inc. dropped 3.7%, Pinduoduo fell nearly 4%, and NetEase, Inc fell more than 1%. Among other stocks, BABA fell more than 5%, Tencent's ADR fell nearly 7%, and first-quarter net profit fell 51% from a year earlier to 23.4 billion yuan. Station B fell nearly 2%, DouYu International Holdings Limited fell 8.6%, and the adjusted net loss narrowed 25.74% to 52.5 million yuan in the first quarter compared with the same period last year. The new power of car-building fell, with NIO Inc. down 4.6%, XPeng Inc. down 3.8% and Li Auto Inc. down 1.4%.

European stocks also fell for the first time in four days, stopping three straight gains and falling back from an one-week high. The pan-European Stoxx 600 index closed down 1.14 per cent, led by 2.8 per cent decline in technology stocks, and declines in most sectors and major country indexes. The eurozone Stoxx 50 index also closed down 1.4 per cent, while the Mingsheng ACWI global index fell 2.7 per cent. The stock indexes of Germany, France and Britain all fell more than 1%, while the Russian stock index rose more than 0.8%.

S&P Global Inc. cut his US GDP forecast for this year by 80 basis points to 2.4 per cent, citing negative shocks such as higher energy and commodity prices, a longer-than-expected conflict between Russia and Ukraine, and faster normalisation of monetary policy. Goldman CEO Solomon advises clients to be cautious about their finances because the Fed's measures to fight inflation could lead to a recession or other negative consequences.

According to a survey of US companies CEO by the Conference Board, more than half (57 per cent) of companies at the top are pessimistic about a "brief and mild recession", while the proportion of people predicting an improvement in business conditions in the second quarter halved from the first quarter. Salman Ahmed, head of global macro at Fidelity, said US growth would start to slow in the coming months.

The demand for risk aversion pushed up both European and American government bonds, and the yield on 10-year Treasuries rose above 3% and then fell, pegging upside down to the 5-year curve.

The market is worried about the rapid tightening of inflation and monetary policy, the rising demand for risk aversion, the general rise in the price of European and American government bonds and the fall in yields. Long-end yields fell even more. According to financial blog Zerohedge, both stock and bond yields have fallen, and the bond market yield curve is flatter, suggesting that "stagflation" is becoming a baseline scenario in the eyes of many.

The 10-year benchmark US bond yield briefly rose above 3 per cent, but US stocks fell rapidly and widened, falling more than 9 basis points and losing 2.88 per cent at one point during the day. The yield on 30-year bonds also fell 10 basis points to 3.10% after rising above 3.20%.

The yield on two-year US bonds, which is more sensitive to monetary policy, rose above 2.73 per cent in Asia and Europe, while US stocks fell as deep as 5 basis points, losing 2.65 per cent at one point. Five-year yields also fell 7 basis points after failing to push 3 per cent, back to the 10-year curve.

In addition, 10-year German bond yields fell two basis points and pushed down 1 per cent of 10-year gilt yields also fell two basis points to 1.87 per cent.

Carl Ludwigson, an analyst at Investment Advisors, pointed out that widespread high inflation will prompt central banks to tighten monetary policy more quickly, posing a threat to asset prices. If the Fed's policy response is too aggressive, US Treasuries and high-quality municipal bonds will once again become safe havens for investors as demand is undermined by tighter financial conditions.

Following the sell-off of risky assets, international oil prices fell by $3 or more than 3%, and US gasoline prices reached new highs for many days in a row.

WTI June crude oil futures closed down $2.81, or 2.50%, at $109.59 a barrel. Brent July crude oil futures closed down $2.82, or 2.52%, at $109.11 a barrel.

Us oil WTI June futures rose above $115or 2.7% at one point, while US stocks fell rapidly with risky assets, falling nearly $4 or 3.5% in intraday trading, losing $109. July futures could not maintain an intraday high of $112.It fell as deep as $3.54 or 3.2%, forcing a daily low of $106m. International oil distribution fell quickly after breaking US $115, falling as deep as US $3.54 or 3.2%, losing the integer digit of US $110 and forcing US $108 at a daily low.

Before the sell-off in risky assets, oil prices had risen on improved demand prospects and heightened supply concerns, with Russian crude oil production falling nearly 9 per cent month-on-month in April, according to an internal report by the OPEC+ this week. Inventory of EIA commercial crude oil and stocks of refined oil such as gasoline and refined oil fell sharply more than expected in the week of May 13 in the United States. However, the United States plans to ease oil sanctions on Venezuela to increase supply, which is limiting the increase in oil prices.

Meanwhile, US retail gasoline prices have risen steadily, with the national average price of a gallon of regular gasoline hitting a record high of $4.567 on Wednesday, up nearly 12 per cent from a month ago and nearly 50 per cent from a year ago, adding to inflationary pressures across the economy. Gas prices rose above $4 a gallon for the first time in US state history on Tuesday, according to CCTV. As the summer vacation approaches, demand increases or continues to push up prices.

After Powell reiterated the hawkish outlook, the dollar rebounded from a two-week low, and safe-haven currencies such as the yen and the Swiss franc rose

The DXY, a basket of dollar indexes that measures the dollar against six major currencies, has fallen for three days, rebounding from nearly two-week lows and rising as high as 0.5 per cent on Wednesday, still less than 104. on Tuesday, DXY fell 0.9 per cent, the biggest drop in more than two months and hit a 20-year high last week.

The rebound in the dollar was mainly supported by the reaffirmation of the outlook for hawkish monetary policy by a number of Fed officials led by Powell, as well as safe-haven demand, which was reflected in the rise of traditional safe-haven currencies such as the Japanese yen and the Swiss franc against the dollar. other non-US currencies fell. The euro fell 1.05 against the dollar and retreated from an one-week high, while sterling fell more than 1 per cent to 1.24 after inflation hit a 40-year high.

Spot gold rose to $1820 driven by safe-haven demand, London Metals fell on the prospect of raising interest rates, and Lun Copper stopped rising three times in a row.

Spot gold and gold futures are moving apart again. COMEX June gold futures closed down about 0.2% at $1815.90 / oz, rising for two days and stabilizing above $1810, mainly depressed by a rebound in the denominated currency, the US dollar.

Spot gold, on the other hand, was boosted by safe-haven demand in US stocks, rebounding more than $17 from session lows and nearly $10 from yesterday's close, returning to above $1820 at one point, up as much as 0.5 per cent on the day.

However, some analysts believe that gold prices continue to be affected by the prospect of interest rate hikes, the US dollar and US bond yields, and cannot continue to rise above the integer figure of 1820 US dollars, and the overall general trend of gold prices in the short term may continue to fall to 1750 US dollars.

The prospect of a radical interest rate hike in the US lifted the dollar, sending basic metals lower in London. Copper for LME delivery closed down $131, or 1.4%, at $9235 / ton, losing $9300 in integer digits and falling back from its nearly one-week high, ending three days of gains. Lenny fell for four days in a row, hitting its lowest level in two months. Lunxi, which has risen for two days and lost $34000, closed down $1046 or 3 per cent on Wednesday.

Carsten Menke, an analyst at Julius Baer in Switzerland, pointed out that the prospect of raising interest rates led to a fall in copper prices. "We are worried that metal prices may have peaked in the first quarter of this year." Alastair Munro, an analyst at brokerage Marex, said the metal market was still on a downward trend and that the rebound earlier this week was mainly short covering.

The inner market futures night market generally closed down, with fuel falling about 3.8% and crude oil falling more than 3%. Thread fell by more than 2%, hot coil by 1.80%, iron ore by 3%, coke by 2.8%, coking coal by 3.5%, thermal coal by 0.6%, LPG and asphalt by more than 2%, and grain futures fell generally.