白银，暴跌！

Market Overview - On December 31, 2025, U.S. stock indices closed lower, marking the end of the trading year with the Dow Jones down 0.63% at 48,063.29 points, the S&P 500 down 0.74% at 6,845.5 points, and the Nasdaq down 0.76% at 23,241.99 points, all recording four consecutive declines [1] - For the entire year of 2025, the Dow Jones increased by 12.97%, the S&P 500 by 16.39%, and the Nasdaq by 20.36%, achieving three consecutive annual gains [1] Silver Market - On December 31, precious metals experienced a significant pullback, with New York silver futures dropping by 8.91% and London silver spot prices falling by 6.08% [4] Nike Stock Activity - Nike's stock surged by 4.17% to $63.74 per share, with a total market capitalization of $94.4 billion, following substantial stock purchases by company insiders [7] - Tim Cook, CEO of Apple, increased his stake in Nike by acquiring approximately 50,000 shares, resulting in a 90% increase in his ownership [9] - Another board member, Robert Holmes Swan, also increased his holdings by 8,700 shares, raising his stake by 24% [9] - Nike's CEO, Elliott Hill, purchased about 16,400 shares in a transaction valued at $1 million, increasing his personal stake by over 7% [9] Offshore Renminbi Performance - The offshore renminbi reached a 15-month high, trading above 6.98 on December 31, 2025, and was reported at approximately 6.79530 at the time of writing [10]