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Market Overview - As of December 11, US stock indices showed mixed performance, with the Dow Jones up by 0.94%, while the S&P 500 and Nasdaq fell by 0.18% and 0.72% respectively [1] - Major tech stocks experienced declines, with Oracle's stock dropping by as much as 16%, resulting in a market cap loss of approximately $102 billion (around 72 billion RMB) [3] Company Performance - Oracle's second fiscal quarter results fell short of market expectations for both revenue and cloud business income, leading to a significant drop in its stock price [3] - Other tech giants like Nvidia and AMD saw declines of over 3%, while Intel dropped more than 2%. Tesla, Apple, and Google also experienced declines exceeding 1% [3] Cryptocurrency Market - The cryptocurrency market faced a collective downturn, with Bitcoin falling below the $90,000 mark, currently priced at $89,897.3, marking a 2.35% decrease in the last 24 hours [8] - Over 150,000 traders were liquidated in the past 24 hours due to the market's volatility [7] Oil Market - Both West Texas Intermediate (WTI) and Brent crude oil prices fell by nearly 2% [5] Labor Market Insights - The US Labor Department reported a 0.8% increase in the Employment Cost Index for Q3, indicating a slowdown in labor demand and slow growth in worker income [9] - The Federal Reserve announced a 25 basis point reduction in the federal funds rate target range to between 3.50% and 3.75%, marking the third rate cut of the year [9] Federal Reserve Actions - The Fed's dot plot indicates an expectation of one more rate cut in 2026, but analysts suggest this may be overly optimistic and could change based on labor market conditions [12] - The Fed is set to initiate a "mini QE" by purchasing approximately $40 billion in short-term Treasury bills starting December 12, aimed at addressing market liquidity rather than lowering long-term rates [13]