DBS, Goldman Sachs Execute First Over-the-Counter Interbank Crypto Options Trade

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[The Federal Reserve Cuts Interest Rates by 25 Basis Points Again, NVIDIA's Market Cap Surpasses $5 Trillion] The Federal Reserve has lowered the benchmark interest rate by 25 basis points for the second consecutive time and announced that quantitative tightening (QT) will end starting in December. Federal Reserve Chairman Jerome Powell stated that further rate cuts may be paused in December. As a result, the three major U.S. stock indices showed mixed performance: the Nasdaq Index rose 0.55%, the S&P 500 Index closed flat, and the Dow Jones Industrial Average fell 0.16%. In the tech sector, NVIDIA's stock price rose approximately 3%, with its market capitalization surpassing the $5 trillion milestone for the first time. Apple's stock price saw a slight increase, with its market capitalization closing above $4 trillion for the first time.

[Analyst Says Powell's Remarks Briefly Impacted the Stock Market] Michael Rosen, Chief Investment Officer at Angeles Investments, stated that the rate cut was in line with market expectations, but Powell's remarks dampened the market's optimism for another rate cut in December. Powell's comments indicate divisions within the Federal Reserve regarding further rate cuts, especially in the context of high inflation. Investors should anticipate that inflation may remain elevated for an extended period, limiting the room for monetary easing. As a result, the stock market briefly pulled back, but corporate earnings remain strong, and investment portfolios are still fully allocated.

[Mastercard Plans to Acquire ZeroHash for Nearly $2 Billion] Mastercard plans to acquire cryptocurrency startup ZeroHash for nearly $2 billion, further expanding its presence in the crypto sector.

[Federal Reserve Chairman Powell Says Closely Monitoring Credit Conditions] Federal Reserve Chairman Powell stated that the Fed is paying very close attention to credit conditions. The currently observed rise in default rates does not indicate broader credit issues.