4E Exchange: US Stock Indices Plunge, Crypto Market Crashes, Stablecoin Wealth Management Products Emerge as Potential Safe Haven
On September 7, according to 4E Exchange monitoring: All three major US stock indices fell on Friday. In the first trading week of September, the Nasdaq fell 5.77%, its biggest weekly decline since January 2022; the S&P fell 4.25%, and the Dow fell 2.93%, both marking their largest weekly declines in a year and a half. The crypto market continued to decline, with Bitcoin down over 10.51% for the week and Ethereum down over 13.84%.
The US added fewer jobs than expected in August. After recent market turmoil, the market is like a startled bird, magnifying any weakness. Although the market expects the Fed to begin its rate-cutting cycle this month, Fed officials did not explicitly commit to a 50 basis point rate cut in September, disappointing the market. September is historically a poor month for US stocks and cryptocurrencies, and market sentiment indicators are weak. Against this backdrop, eeee.com has launched a USDT stablecoin wealth management product with an annualized return of 5.5%, offering investors a potential safe-haven option to achieve stable returns amidst market volatility.