Federal 9 monetary policy meeting kicked off. Currently, rate hike 75 basis points have been basically priced, overnight US stock three major indexes fell by about 1%. Swedish Central Bank raised the benchmark interest rate by 100 basis points to 1.75% from the 21st; the Russian stock market unexpectedly fell, and the Russian RTS index plummeted by more than 10% during the session; the US dollar index fluctuated and rose, and the closing price of overnight and Beijing time have reached 110 this morning, at a high level since 2002.
See the specific data of the US stock market. By the close, the Dow Jones Industrial Average fell 313.45 points, or 1.01%, to close at 30,706 points; Nasdaq Comprehensive Index fell 109.97 points, or 0.95%, to close at 11,425 points; S&P 500 Index fell 43.96 points, or 1.13%, to close at 3,856 points.
In terms of European stock markets, at the close of the trading session, the Financial Times 100 index fell by 0.61%. French CAC40 index fell 1.35%, German DAX30 index fell 1.03%, Italian MIB index fell 1.66%, Austrian ATX index fell 1.83%, and Spanish IBEX35 index fell 1.50%.
Russian RTS index fell 9.31%
International crude oil Futures In terms of the main contract of US dollars 84.29 per barrel, a drop of 1.25%; Berry Oil's main contract closed at US dollars 90.87 per barrel, a drop of 1.23%.
Global related news, on Tuesday local time, the Russian stock market, which had not fluctuated significantly for several months, suddenly experienced a "flash crash". In terms of stocks, the share price of Gazpromium Corporation fell by 14% at one point. Observers believe that most news about the conflict between Russia and Ukraine that day may have affected the sentiment of Russian stock market investors to a certain extent.
According to CCTV News, the Russian Ministry of Defense reported on the 220th that on the eastern front, where the current fierce battle situation, the Russian army shot down a Ukrainian Air Force Su-24 fighter jet in the air battle in the Donetsk area. On the southern front, the Russian army launched a strike against some Ukrainian temporary camps in the Nikolayev area, destroying multiple special military equipment and vehicles and an armored vehicle repair shop. The General Staff of the Ukrainian Armed Forces stated that the Ukrainian army launched a strike on military targets of several Russian troops in the past day. At the same time, Ukrainian local officials revealed that the Ukrainian army continued to advance in the northeastern region and re-controlled Bilogolifka in the Luhansk , region. The settlement is about ten kilometers away from the important local city of Lisichangsk.
Putin postponed a nationwide televised speech at noon today. According to reports, Russian President Putin failed to deliver a national televised speech as originally planned, which should have been the first national speech since the Russian-Ukrainian conflict, and the reason is unclear. Putin's former adviser Sergei Markov said on social networking website that Putin's speech was postponed to Wednesday and the speech is expected to involve the situation in Ukraine. According to media reports, Putin's speech will be held from 9:00 to 10:00 Moscow time (14:00 to 15:00 Beijing time today).
Moscow Exchange announced that it would suspend trading in pounds. On the evening of September 20 local time, the Moscow Exchange issued an announcement stating that starting from October 3, 2022, the foreign exchange market of the Moscow Exchange will suspend trading of pounds. The suspended transactions include spot and forward intraday and over-the-counter trading in pound- ruble and pound-dollar USD. The Moscow Exchange said the reason for the suspension of business was the potential risks and difficulties in settlement of the pound. Previous transactions and transactions to be delivered by September 30, 2022 (including that day) will be executed in the normal mode. The Moscow Exchange said it is working with banks to restore relevant transactions and the recovery time will be announced separately.
In addition, the Federal Reserve will release the latest policy statement on Wednesday at 18:00 local time (2:00 am on Thursday), and will also announce the outlook for economic forecasts, which will show how positive the Federal Reserve officials believe interest rates must be raised to deal with the inflation wave, and the economic cracks they believe appear to lead to slower growth or rising unemployment. In addition to the Fed, more and more people believe that a soft landing is unlikely. Some analysts estimate that the unemployment rate may need to rise to a high of 7.5%. It hit 3.7% in August.Interest rate futures traders, which are linked to the Fed's indicator overnight rate , now expect the rate to be between 4.25% and 4.50% by the end of the year, 2 percentage points higher than the current level, and the last time it came to that level was at the end of 2007.
Some media believe that compared with the previous dot chart released after the Fed's meeting this week, it is more important because investors have tried to bet on how dot charts suggest the pace of future interest rate hikes and predict how much impact Fed officials expect interest rate hikes may have on the economy. Moreover, any surprises may occur in the Federal Reserve's economic outlook for inflation, unemployment and GDP growth rate. Some economists expect that the Fed's rate hike cycle will be more restrictive to the economy and may have a more serious impact on the economy.
The so-called "dash map" estimates of seven Fed's board members and 12 Fed chairmen also include unemployment, inflation and economic growth prospects.
