抛售只是前奏，鲍威尔才是压轴

Group 1 - The core viewpoint of the article indicates that the recent market sell-off is just the beginning, with a significant focus on upcoming economic indicators and Federal Reserve signals [1][2] Group 2 - The U.S. Producer Price Index (PPI) for July saw a month-on-month increase from 0.00% to 0.9%, which annualizes to nearly 11%, a substantial figure that cannot be overlooked [2] - The market's expectation for a Federal Reserve interest rate cut in September has decreased from 100% to approximately 85%, indicating a shift in market sentiment and potentially leading to capital outflows [2] - The U.S. dollar index experienced a 1.4% drop on the day of the non-farm payroll data, but only a 0.4% increase on the day of the PPI release, suggesting that market participants are still in a wait-and-see mode [2] - The article emphasizes that the true market direction will likely be established within 48 hours following Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole conference, marking a critical turning point for market sentiment [2]