Market Storm Center: The New Head of the Federal Reserve Triggers Global Volatility
Key Event: U.S. President Trump nominates former board member Kevin Warsh as the next chair of the Federal Reserve. Due to his strong "hawkish" label, the market worries that future monetary policy will tighten more quickly.
Chain Reaction: Panic sentiment instantly swept across the precious metals market. The London spot gold price plummeted over 5% in a single day, while silver fell even more sharply, staging a "Black Friday."
Domestic Market: A-shares showed a mixed performance yesterday, with the ChiNext index rising 1.48%, while the Shanghai Composite index fell 0.96%. Senior officials from the China Securities Regulatory Commission have been frequently speaking out recently, emphasizing the need to "fully consolidate the positive momentum in the capital market" and sending signals for stability.
Macro Overview:
· The cultural industry revenue is expected to grow by 7.4% year-on-year in 2025.
· The National Development and Reform Commission and other departments are improving the capacity pricing mechanism for power generation.
· Overnight U.S. stocks and international oil prices were slightly impacted and fell.
Market Focus: Everything depends on whether Warsh's nomination can pass in the Senate and whether his policy proposals will truly shift. The market's high volatility pattern may continue.