US stock market closes, Nasdaq down 1.63%
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The US stock market closed down, with the Dow Jones Industrial Average falling 1.63%, the Nasdaq falling 1.63%, and the S&P 500 index falling 1.54%.
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The US stock market closed down, with the Dow Jones Industrial Average falling 1.63%, the Nasdaq falling 1.63%, and the S&P 500 index falling 1.54%.
[Hong Kong SFC Launches Tender for Virtual Asset Trading Monitoring System] The Securities and Futures Commission of Hong Kong (SFC) has officially launched the tender process for a virtual asset trading monitoring system to enhance regulatory capabilities and strengthen the detection of anomalies in virtual asset trading. The tender deadline is November 7, 2025 (UTC+8), and the winning institution is expected to be determined in the first half of 2026. This initiative aims to further optimize the regulatory framework of Hong Kong's virtual asset market, ensuring transparency and security in trading activities.
[An address holds 3464.4 ETH short positions on the Hyperliquid platform] An address deposited 5.057 million USDC as margin to the Hyperliquid platform 5 hours ago and initiated its first trade. Currently, the address holds 3464.4 ETH short positions, valued at approximately $14.27 million, with an opening price of $4120.06.
美国国会议员 Ro Khanna 将提出一项法案，禁止总统及民选官员持有或创建加密货币，以规范相关利益冲突。（Watcher.Guru）
[The Federal Reserve May Boost Market Sentiment Through Rate Cuts and Early End to Balance Sheet Reduction] The Federal Reserve's policy committee is expected to announce two key easing measures on Wednesday: a 25-basis-point rate cut and an early end to the balance sheet reduction program. Analyst Derek Tang stated that this combination of measures could significantly enhance market risk appetite and exert downward pressure on Treasury yields. He noted that although there is still uncertainty surrounding the decision to end the balance sheet reduction early, the recent tightening in funding markets has greatly increased this possibility. These policy adjustments may signal further easing and strengthen market expectations of the Federal Reserve's support for economic growth. (UTC+8)
[S&P Downgrades Strategy to Junk Credit Rating Due to High Concentration in Crypto Business and Other Factors] S&P Global Ratings has downgraded Strategy (formerly MicroStrategy) to a junk credit rating, assigning it a B- rating, six notches below investment grade, with a stable outlook. S&P highlighted issues such as the company's high concentration in cryptocurrency business, narrow business scope, weak risk-adjusted capital strength, and insufficient U.S. dollar liquidity. Strategy holds approximately $74 billion in fair value of Bitcoin, acquired through debt and equity issuance. Although S&P acknowledged the company's ability to manage convertible bonds, it expressed concerns over liquidity risks associated with its debt arrangements. By October 2025, the company is required to pay over $640 million annually in preferred stock dividends, and $5 billion in out-of-the-money convertible bonds will begin maturing in 2028. S&P emphasized that Bitcoin price volatility could exacerbate liquidity pressures when the debt matures.