TradingKey - At 9:30 AM ET, U.S. stocks opened under pressure as interest rate repricing triggered a synchronized sell-off across multiple asset classes. As the market gradually abandons bets on 2026 rate cuts, expectations for the Federal Reserve to keep interest rates 'higher for longer' have rapidly intensified, sending all three major stock index futures lower.
In pre-market trading, S&P 500, Nasdaq, and Dow Jones futures all recorded declines of varying degrees, with high-valuation growth sectors under particularly visible pressure.
The Magnificent Seven (MG7) opened under broad downward pressure.
The upward revision of the interest rate trajectory has directly raised discount rates, weighing on tech stock valuations and serving as the primary driver of this round of correction.
Meanwhile, safe-haven assets also showed divergent performance. Gold and silver both broke below key support levels; gold surrendered the 4,600 psychological level, while silver prices plunged nearly 12%, breaking below the 70 mark. This suggests that in a tightening liquidity environment, capital is flowing toward cash and U.S. dollar assets rather than traditional precious metals.
From a macro perspective, recent U.S. inflation data has consistently exceeded expectations, and combined with Middle Eastern tensions driving up energy prices, it has forced the market to reassess the inflation path. The combination of sticky inflation and external shocks is undermining the feasibility of monetary easing in the short term.
Against the backdrop of resonating policy uncertainty and geopolitical risks, short-term volatility for risk assets may be further amplified.
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