The global market has encountered a "Black Friday," as the Fed's hawkish remarks extinguish hopes for interest rate cuts.

On November 14, hawkish signals from Fed officials extinguished market hopes for a rate cut in December, combined with the still chaotic data calendar and concerns about the artificial intelligence bubble, leading to a heavy blow to global stock and precious metal markets on Friday. Blue-Chip Stocks markets from Tokyo to Paris and London saw significant declines, with new concerns about the upcoming budget announcement exacerbating the pain in the UK market. US stock index futures indicated a bleak opening for Wall Street, having already plummeted significantly on Thursday. Jeremy Stretch, head of forex strategy at CIBC Markets, stated: “Our expectations for a rate cut in December have returned to a 50/50 chance, and this, along with concerns about the AI bubble, has undermined the stability of market sentiment, which has become volatile this month.” Meanwhile, the White House crushed market hopes that the situation of the US economy would soon become clearer, stating that the US unemployment data for October may never be obtained, intensifying views that the Fed may pause action until more clear information is available. (Jin10)