$BTC The Federal Reserve recently announced that it will maintain interest rates, leading to a disappointment in market expectations for a rate cut and causing investor sentiment to become cautious. In a high interest rate environment, consumer spending and corporate financing costs remain under pressure, especially with the retail sector drawing significant attention ahead of 'Black Friday.' U.S. stocks are facing downward pressure, with technology and consumer stocks being hit hardest, while market liquidity tightens and risk-averse sentiment rises. Although retailers are increasing promotional efforts, high inflation and rising credit costs may suppress consumer purchasing power. Sales data for Black Friday may fall short of expectations, and the market outlook is difficult to describe as optimistic. Investors should pay attention to future economic data and Federal Reserve policy trends to assess the next direction of the market.