Originally thought last week's non-farm payrolls cold snap would give US stocks a breather, but last night (7/8) a bolt from the blue – the geopolitical crisis directly blew up the market.

The three major indices all plunged: the Dow plummeted 577 points to 52,925, the S&P fell 0.28%, and only the Nasdaq managed to hold on thanks to big tech in late trading, barely turning positive with a 0.2% gain.

The trigger for last night's sharp drop was Trump's shocking move: he publicly announced that the ceasefire agreement with Iran had officially ended, bluntly stating that the attack last night was heavy, and that fighting might continue tonight. As soon as the news broke, WTI crude surged over 4%, Brent oil shot above $78, and the 10-year Treasury yield jumped back to a high of 4.56%. With the double blow of oil prices and interest rates, market risk appetite was instantly crushed.

#GUSD年化升至3.8%