The first day of December! The waterfall market is washing faces 🤧🤧

Everything comes from a "tip-off": Federal Reserve Chairman Powell will announce his resignation at an emergency meeting at 7 PM Eastern Time on Monday. This has triggered a surge in risk-averse sentiment in the market.

It has been confirmed that Federal Reserve Chairman Powell will indeed speak at a memorial event this Tuesday at 9:00 (Beijing time), although the specific topic of his speech has not yet been disclosed. Notably, Trump stated this morning that he will soon announce the next nominee for Federal Reserve Chairman.

Currently, the frontrunner for Federal Reserve Chairman is Kevin Hassett, Director of the White House Council of Economic Advisers.