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Powell suppressed expectations of rate cuts, U.S. stocks recorded their biggest weekly drop in two months, and market sentiment fell

On November 18th, after a strong rise following the election, the market sentiment cooled off slightly last week. Federal Reserve Chairman Powell seems to be intentionally slowing down the rate of interest rate cuts, which has cooled off the excitement generated by the "Trump trade." According to 4E monitoring, last week the three major U.S. stock indices continued to weaken after reaching new highs on Monday, and the expectation of interest rate cuts on Friday caused the U.S. stock market to decline across the board. The S&P 500 index fell 2% in the past five trading days, wiping out half of its gains since the election. The Dow fell 1.24% this week, and the Nasdaq fell 3.15%, the largest weekly decline since September. After breaking through $93,000 on Wednesday to reach a new historical high, Bitcoin began to converge but showed resilience due to the decline in the U.S. stock market. Currently, it is hovering around $90,799, with a 7-day increase of nearly 12%. Other altcoins followed the fluctuations of Bitcoin, and SOL continued to benefit from the frenzy of MEME, showing strong rebound and upward momentum. In terms of bulk commodities, the cooling of the expectation of interest rate cuts by the Federal Reserve has led to the continuous strengthening of the U.S. dollar, reaching its highest level in over a year. The U.S. dollar index rose 1.6% last week and has risen for seven consecutive weeks. The strong U.S. dollar has put pressure on all bulk commodities. Spot gold fell about 4.6% last week, the largest weekly decline in three years, and fell nearly 9.3% from its historical high. U.S. crude oil fell nearly 5%, and Brent crude fell nearly 4%. The current market focus is on inflation concerns and the more hawkish outlook of the Federal Reserve after the Trump administration took office. Powell's speech on Thursday was basically saying that Fed officials do not need to rush to cut interest rates, causing traders to cut their expectations of interest rate cuts. The decline in sentiment and the uncertainty of monetary policy have increased the upward resistance in the market. EEEE.com is a financial trading platform that supports assets such as cryptocurrencies, stock indices, bulk gold, and foreign exchange. Recently, it launched a USDT stablecoin wealth management product with an annualized return rate of 5.5%, providing potential hedging options for investors. 

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