Market Overview - The U.S. banking sector is experiencing panic, leading to significant declines in the Asia-Pacific markets, termed "Black Friday" [1] - The South Korean stock market stands out with the composite index reaching a historical high, achieving a cumulative increase of over 56% this year [1] - Japanese stocks fell after two days of gains, with the Nikkei 225 index dropping by 1.44% [1] A-share and Hong Kong Market Performance - A-shares saw a decline, with the Shanghai Composite Index down by 1.95%, the Shenzhen Component down by 3.04%, and the ChiNext Index down by 3.36% [3][6] - The total trading volume in the Shanghai and Shenzhen markets was 19,544 billion yuan, an increase of 57 billion yuan from the previous day [4] - Hong Kong stocks continued to decline, with the Hang Seng Technology Index falling approximately 4% and the Hang Seng Index down over 2% [5][6] U.S. Stock Market Trends - U.S. stock index futures are continuing to decline, with the Nasdaq 100 futures down by 1.65%, S&P 500 futures down by 1.4%, and Dow futures down by 1% [6][8] - Major tech stocks, including Tesla and Nvidia, are experiencing declines of around 2% [7] Credit Crisis Concerns - There are growing concerns about a potential credit crisis in the U.S. banking sector, with the KBW Bank Index experiencing its largest drop in six months [12] - Two regional banks, Zions Bancorp and Western Alliance Bancorp, saw their stock prices plummet by 13% and 11% respectively due to exposure to fraudulent loans [13] - Recent bankruptcies in the auto loan sector have raised alarms about the overall credit market, with significant losses reported [16] Gold Market Dynamics - The global market is shifting towards a risk-averse mode, with gold prices surpassing $4,300 and its total market value reaching $30 trillion [16] - UBS predicts that the structural forces driving the current "gold rush" will continue, with gold prices potentially rising to an optimistic target of $4,700 per ounce [17]