The year-on-year growth rate of U.S. CPI in April was slightly higher than expected, but it was still close to a four-year high, but this was the first time since August last year that the growth rate was lower than the previous month. Comments said that the pace of Fed rate hikes would not change, but the growth rate slowed down in April Since gasoline prices temporarily leave historical highs, it is a sign that inflation may peak.

The good performance guidance of German industrial giant ThyssenKrupp and other companies has boosted European stocks to accelerate their recovery. The pan-European stock index rose nearly 2% on a single day for the first time in more than a month, and sectors such as automobiles, energy, and tourism rose by more than 3% to lead. The partial rebound in U.S. stocks only lasted for one day, and the intraday decline was staged again on Wednesday. The technology stocks that led the S&P and Nasdaq rebound on Tuesday became the biggest driver of Wednesday’s decline. The commentary said that US stocks now know one thing: the Fed will continue to aggressively tighten the currency after the April CPI announcement, which could lead to a recession.

During the midday session of US stocks, the Nasdaq, which had risen more than 0.9% in early trading, expanded to more than 3%, and the S&P and Dow, which had risen more than 1% in early trading, fell more than 1%. The leading technology stocks that rebounded across the board on Tuesday all fell in intraday trading. Tesla, which led the decline, fell by more than 8%, and Apple fell by more than 5%, ceding the crown of the world’s most valuable company to Saudi Aramco. The three sectors of technology stocks led the decline in the S&P, with Tesla’s consumer discretionary sector falling more than 3% at one point. Among the few sectors that bucked the market and rose, energy, which benefited from the rebound in crude oil, once rose by more than 2%.

After European Central Bank President Christine Lagarde “released” the European Central Bank to raise interest rates as soon as July, investors weighed the prospect of the European Central Bank’s interest rate hike and US CPI data. Yields wiped out gains after the U.S. CPI was announced, and the benchmark 10-year German government bond yield fell 10 basis points from its intraday high. The 10-year U.S. Treasury bond yield, which rose sharply after the CPI announcement, also returned to a downward trend during the session, failing to stand above 3.00%. After the CPI was announced, the US dollar index turned up in the short-term, breaking above 104.00 at one point, approaching the intraday high of nearly two decades set on Monday.

When the dollar rebounded, the offshore yuan, which rebounded on Tuesday, resumed its decline. It once fell below 6.77 in the session, approaching the one-and-a-half-year trough set on Monday; when US stocks were sold off, high-risk cryptocurrencies were not spared. It fell below the psychological threshold of $30,000 for the second time, and fell below $28,000 for the first time in more than a year, a drop of nearly 60% from the record high in November last year.

Among commodities, international crude oil became the big winner on Wednesday. As the EU considers whether to embargo Russian oil, an important Ukrainian natural gas transfer station that provides one-third of Russia’s transit through Ukraine’s natural gas delivery has been interrupted since Wednesday. Crude oil futures, which fell nearly 10% in two days, made a big counterattack. Up more than 6%, Brent crude oil rose more than 5%. The U.S. Department of Energy announced that U.S. EIA crude oil inventories unexpectedly increased sharply last week, but gasoline inventories continued to fall, well below the seasonal average, and U.S. crude oil production fell last week for the first time since January, becoming another driver of the rebound in crude oil.

However, European natural gas did not extend the rebound momentum on Tuesday. Italian Prime Minister Draghi said that European companies did not violate sanctions by using rubles to buy natural gas. Investors were concerned about the prospect of European natural gas supply. Dutch natural gas futures, the benchmark in continental Europe, gave up most of Tuesday’s gains.

The Nasdaq hit a one-and-a-half-year low for the fourth time in five days. The Dow benchmark S&P had a new 14-month low. Tesla’s sector led the decline, and the S&P European stocks had their biggest gain in six weeks

The three major U.S. stock indexes collectively opened lower and turned up in early trading. When the daily highs were refreshed in early trading, the S&P 500 and the Nasdaq Composite rose nearly 1.2% and more than 0.9%, respectively. The Dow Jones Industrial Average rose by more than 420 points and more than 1.3%, and turned down again in midday trading. When the daily low was refreshed, the S&P and the Nasdaq fell more than 1.8% and about 3.4% respectively, and the Dow fell more than 360 points and more than 1.1% .

In the end, the three major indexes closed down collectively. The Nasdaq, which led the decline, closed down 3.18% to 11364.24 points. After closing at a new low since November 2020 for three consecutive days as of Monday, it has also hit a new closing low since November 3, 2020. The S&P, which pared back Tuesday’s gains with the Nasdaq Composite, closed down 1.65% at 3,935.21 points, closing at a new low since March 25 last year. It closed below 4,000 points for the first time since March 31 last year on Monday. The Dow closed down 326.63 points, or 1.02%, at 31,834.11 points, falling for five consecutive days and hitting a new closing low since March 9 last year for three consecutive days.

The Russell 2000, a small-cap stock index dominated by value stocks, closed down 2.6% for five straight days; the tech-heavy Nasdaq 100, which rose more than 1% on Tuesday, closed down 3.06%, both hitting a new low since November 2020. .

As of Wednesday, the three major indexes had their biggest five-day cumulative losses since March 20, 2020.

Among the major sectors of the S&P 500, only three closed higher on Wednesday, led by energy, which rose nearly 1.4%, utilities, which rose nearly 0.8%, and materials edged up. Among the 8 sectors that closed down, Tesla’s consumer discretionary fell nearly 3.6%, Apple’s IT fell 3.3%, Netflix’s communication services fell 1.5%, finance fell 1%, and real estate fell nearly 100%. 0.2%.

Leading technology stocks fell across the board, hitting a new low in at least more than a year. Tesla closed down nearly 8.3%, closing at a new low since September 20 last year. Among the six major technology stocks of FAANMG, Netflix fell nearly 6.4% to the lowest point since August 2017, Apple fell nearly 5.2%, the lowest since October last year, and Facebook parent company Meta fell 4.5%, the highest since April 2020. New lows, Microsoft fell 3.3%, a new low since June last year, Amazon fell 3.2%, a new low since April 2020, Google parent company Alphabet fell nearly 0.7%, a new low since May last year.

The combined market value of the four FANG tech stocks has evaporated by more than $2 trillion from their November highs.

Popular Chinese concept stocks were mixed, with Chinese concept ETF KWEB closing down more than 1% and CQQQ up 0.4%. The Nasdaq Golden Dragon China Index (HXC) closed down 2.5%. Among the four constituent stocks of the Nasdaq 100 index, Pinduoduo fell 4.8%, JD.com fell 3.5%, Baidu fell nearly 1.7%, and NetEase fell nearly 0.2%. Among other stocks, Kingsoft Cloud fell by nearly 12%, Douyu fell by more than 8%, Dada fell by more than 6%, Weilai Automobile and Tiger Securities fell by more than 5%, Zhihu and Huya fell by more than 4%, Alibaba, Vipshop. Hui and Futu Holdings fell by more than 3%, Xiaopeng Motors fell by more than 2%, TAL fell by about 2%, Station B and Weibo fell by more than 1%, New Oriental fell by about 1%, and Ruixing Coffee Powder rose by more than 10%. %, Manbang rose more than 3%, Lili Automobile rose more than 2%, Ctrip rose nearly 2%, Zhongjian Electronic Cigarette’s first fog core technology and ZTO Express rose more than 1%, and Tencent Fanlist rose about 0.5%.

The pan-European stock index rose for two straight days after a four-day losing streak. Europe’s Stoxx 600 posted its biggest closing gain since March 29, moving further away from Monday’s trough since March 8. The stock indexes of major European countries rose together, with the exception of British stocks, which rose more than 1%, all rose more than 2%. Among the various sectors, only medical and health care, which fell more than 1% on Wednesday, closed down, and the basic resources of automobiles, real estate, oil and gas, technology, tourism, and mining stocks all rose more than 3%. Among individual stocks, Swedish Match continued to surge after U.S. tobacco giant Philip Morris said it had received a $16 billion takeover proposal. After rising nearly 25% on Tuesday, it rose 9% on Wednesday; German Industrial, which raised its sales and operating profit guidance for this year, continued to soar. Giant Thyssenkrupp rose 11.2%.

After the CPI announcement, the 10-year U.S. bond yield rose straight up to 3%, and then fell more than 10 basis points

The price of European government bonds rose during the session and finally rose for three consecutive days. The yield generally refreshed the daily high after the US CPI was announced. After Lagarde’s speech, the increase turned down. By the end of the European market, the UK 10-year benchmark bond yield fell 2.2 basis points on the day to 1.826%, and the US CPI rose to a daily high of 1.937% after the release of the US CPI data, and rose nearly 9 basis points within the day; the German government bond yield fell by 1.4 in the same period. 1 basis point, at 0.986%. After the release of the US CPI data and before the opening of the US stock market, it rose to a daily high of 1.090% and rose 9 basis points within the day.

The yield on the 10-year benchmark U.S. Treasury bond once fell below 2.93% in European stocks, and fell by more than 6 basis points in the day. After the announcement of the U.S. CPI, the short-term rise, wiping out all the decline and turning up, rose again to 3.00%, and the U.S. stock market refreshed before the market. It approached 3.08% at the daily high, rose more than 8 basis points within the day, and then continued to fall. The U.S. stock market gave up all gains and fell below 3.00% in early trading, and broke 2.91% when it refreshed the daily low in midday trading. The high fell by nearly 17 basis points to 2.9207% in late New York, down about 7 basis points within the day.

The 2-year U.S. bond yield recorded a daily low of 2.5694% in early European trading, and the U.S. CPI recorded a daily high of 2.7399% after the release, to 2.6371% in late New York, up 2.48 basis points on the day.

After the CPI was announced, the US dollar index turned up and approached a 20-year high, and Bitcoin fell below $28,000 intraday, hitting a new low in nearly a year and a half

The ICE U.S. Dollar Index (DXY), which tracks the exchange rate of a basket of 6 major U.S. currencies, once fell below 103.40 in European stocks to refresh the daily low, and fell by more than 0.5% in the day. , approaching the high since December 2002 set on Monday, rising nearly 0.2% on the day, and U.S. stocks turned up again in midday trading.

By the close of U.S. stocks on Wednesday, the U.S. dollar index was slightly above 104, up less than 0.1% on the day; the Bloomberg U.S. dollar spot index rose slightly, still at its highest level since May 2020.

On Tuesday, the offshore RMB (CNH), which had been falling for three consecutive days, fell back with the intraday rise. The US stock market fell below 6.76 to 6.7677 before the market, approaching the low since November 4, 2020, which was set by the intraday loss of 6.77 on Monday, and fell intraday. 200 points, and then turned up in a short period of time. The US stock market rose to 6.7308 when it refreshed the daily high at the beginning of the session, and nearly recovered 6.73. It rose nearly 170 points in the day. It was reported at 6.7643 yuan, down 166 points from the late New York trade on Tuesday. .

Cryptocurrencies fell across the board, with the exception of a small number of stablecoins such as USDC, which is pegged to the U.S. dollar. Bitcoin (BTC) resumed its decline after the European stock market rose above $32,000 to refresh the daily high and continued to decline. US stocks fell below the $30,000 mark in midday trading this week, and once fell below $28,000 after the close of the market. 27,900 US dollars, a new low since December 2020, a drop of more than 4,000 US dollars or more than 13% from the intraday high.

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