Express News | UBS Group: It is now expected that the Federal Reserve will cut interest rates by 100 basis points this year.
Express News | The US non-manufacturing PMI for July was 51.4, expected to be 51, with a previous value of 48.8.
US stocks pre-market | The decline of the three major indexes continues to narrow, with the S&P 500 index falling more than 2%, Nvidia falling more than 5%, and Apple falling more than 4%.
As concerns about the slowdown of the US economy intensify, traders are betting that the Federal Reserve will take emergency interest rate cuts.
Fed official Guoersibi: If the economy deteriorates, measures will be taken to repair it.
To calm the market? Guerspia said that the Federal Reserve will respond to economic deterioration, but he also claimed that he did not see signs of a recession.
Express News | Fed's Powell: Economic growth remains fairly stable, Fed will not take excessive action.
U.S. stock market outlook: Economic recession concerns intensify! Nasdaq futures fell more than 6%, Nvidia fell more than 14% pre-market, and panic index soared more than 180%.
The volatility index of the US stock market has reached the highest level since 2020, intensifying concerns about economic recession; Bitcoin once fell below $50,000, cryptos related stocks generally fell; Apple's share price plummeted nearly 9% in pre-market trading due to shareholding reduction by Buffett.