【Global Capital Market Alert: Risk Assets Face Double Pressure】
Overnight, global markets experienced dramatic fluctuations, with the stock markets of the US, Japan, and South Korea all declining simultaneously. The Dow Jones index fell by 2.2%, the Nikkei 225 index plummeted by 3.5%, and the KOSPI index in South Korea dropped by 2.8%. Although the current market has not yet triggered a circuit breaker mechanism, the VIX fear index surged by 25% in a single day to 32.6, indicating a sharp increase in investors' risk-averse sentiment.
Particular attention should be paid to the risk exposure in the cryptocurrency market. Bitcoin has continued to face pressure after breaking below the key support level of $30,000, with its 30-day volatility index rising to an annual high of 78%, significantly higher than the S&P 500 index's volatility level of 18%.
Given the current market environment and the approaching Federal Reserve interest rate decision, the digital asset market may experience asymmetric declines—considering the 24-hour trading mechanism in the crypto market and the widespread presence of leveraged positions (the current total open interest in crypto contracts has reached $36.5 billion), any sudden negative news could trigger a chain reaction of liquidations.
Investors are advised to closely monitor the US CPI data to be released tonight, as this will become a key variable in determining the short-term market direction. In the current scenario of macro policy uncertainty resonating with technical breakdowns, maintaining liquidity reserves and reducing leverage may be a wise choice.
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