Zhi Tong Cai Jing·2025-10-10 23:36Market Overview - Major U.S. indices experienced significant declines, with the Dow Jones falling by 878.82 points (1.90%) to 45479.60, the Nasdaq dropping 820.20 points (3.56%) to 22204.43, and the S&P 500 decreasing by 182.59 points (2.71%) to 6552.52, marking the largest single-day drop since April 10 [1] - European markets also faced losses, with Germany's DAX30 down 427.04 points (1.73%) to 24225.10, the UK FTSE 100 down 82.55 points (0.87%) to 9426.85, and France's CAC40 down 123.36 points (1.53%) to 7918.00 [2] Cryptocurrency Market - The cryptocurrency market saw a sharp decline, with Bitcoin dropping 13.5% to a low of $105,930 and Ethereum falling over 17% to a low of $3,344. Over $7.4 billion in crypto assets were liquidated in the past 24 hours, primarily during a four-hour window on Friday afternoon [3] Commodities - Gold prices rose above $4,000, increasing by 0.91%, while silver rose by 1.86% to $50.172. The CEO of Wheaton Precious Metals Corp expressed confidence that gold prices could exceed $5,000 next year, potentially reaching $10,000 by the end of 2030 due to geopolitical risks and supply shortages [4] - In the metals market, LME copper fell by $350 to $10,518 per ton, while LME aluminum decreased by $50 to $2,748 per ton. Goldman Sachs projected that copper prices would remain between $10,000 and $11,000 per ton in 2026/2027 [5] Economic Indicators - The U.S. consumer confidence index remained stable at 55 points in October, with concerns over high prices and weak job prospects persisting among consumers. Inflation expectations for the next year slightly decreased from 4.7% to 4.6%, while long-term expectations remained stable at 3.7% [10] Company News - Morgan Stanley announced the removal of restrictions on wealth clients holding crypto funds, allowing all clients to invest in cryptocurrencies across various account types starting October 15. This move reflects the firm's commitment to expanding access to crypto investments [11]