[European Central Bank Official Warns of Financial Market and Crypto Asset Correction Risks] European Central Bank Governing Council member Pereira stated that a significant correction in financial markets and crypto assets is one of the main short-term risks to financial stability. He emphasized that central banks must retain the flexibility to decisively lower interest rates and support the economy in the event of shocks or crises, while also pointing out that 'price stability is the top priority.' Pereira believes the current monetary policy is appropriate. His remarks came after a turbulent week in the markets, with the S&P 500 nearing its largest decline since April, treasury yields falling, and risk assets broadly retreating. Markets stabilized on Friday after a Federal Reserve official hinted at the possibility of another rate cut.