was stimulated by the European Central Bank's radical rate hikes , and the European stock market suffered a double kill of stocks and bonds.
As of 21:30 on September 8, Beijing time, the European Stoxx50 index fell 1%, German DAX index fell 1.47%, and the Italian FTSE MIB index fell more than 1%.
At the same time, Feder Chairman Powell made hawkish remarks, U.S. stock opened low, S&P 500 index opened low 0.8%, Dow Jones Industrial Average opened low 0.7%, and Nasdaq opened low nearly 1%. Bilibili (BILI.O) fell 13%, with revenue of 4.9 billion yuan in the second quarter. In the bond market, German Treasury bonds fell sharply, with the 10-year German bond yield rising by more than 10 basis points to 1.688% since the European Central Bank's interest rate decision, and the 2-year German bond yield rose by 13 basis points to 1.23%. In the foreign exchange market, the euro jumped slightly against the US dollar, but then turned downward. Currently, the euro continued to fall against the US dollar, with an intraday decline of more than 40 points at 0.9967. USD index continues to rise, and its intraday increase is currently 0.54% at 110.16.
Earlier, the European Central Bank announced its interest rate resolution and decided to raise all three key interest rates by 75 basis points, which is in line with market expectations. This is the second time that the European Central Bank has raised a significant interest rate of 75 basis points in its history. The first time such a significant interest rate hike was in 1999. The ECB also said that further rate hikes will be raised in the next few meetings.
Powell said in his speech that the Federal Reserve must act directly and forcefully now until the task of curbing inflation is completed. He also reiterated that history warns us not to relax policies too early. In
commodity , after the European Central Bank's resolution, New York gold futures, which had risen nearly 0.7% during the session and approached $1,740, continued to give up their gains. US stocks turned down before the session. US stocks opened and then expanded repeatedly, falling nearly 0.7% in the early session.
After EU plans to implement price limits on Russian natural gas , Putin warned that it will "freeze" oil and gas supply to Europe, international crude oil turned up during the session, US stocks hit a new high in the early trading, WTI crude oil rose by more than 2%, and Brent crude oil rose nearly 2%.
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