郑眼看盘丨地缘冲突持续，A股港股回调

Market Performance - A-shares experienced significant declines, with the Shanghai Composite Index falling by 0.79% to 3362.11 points, the Shenzhen Composite Index down by 1.50%, and the ChiNext Index decreasing by 1.70% [1] - The total trading volume across A-shares was 12,809 billion, slightly up from 12,218 billion the previous day [1] - In terms of sector performance, oil and gas sectors showed strength, while hotel and restaurant, and banking sectors performed relatively better [1] Geopolitical Impact - Ongoing military conflict between Israel and Iran has escalated, lasting for 7 days, contributing to market volatility and increased risk aversion [1] - A-shares are affected by geopolitical tensions, though to a lesser extent compared to Hong Kong stocks, which saw a notable decline [1] Federal Reserve Update - The Federal Reserve maintained the benchmark interest rate at 4.25%-4.50%, marking the fourth consecutive meeting without a rate change [2] - The "dot plot" indicates that most Fed members expect a 50 basis point rate cut by the end of the year, likely in two 25 basis point increments [2] - Market expectations suggest that the Fed will not cut rates in July, with potential cuts anticipated in September [2]