[Morning Report] US stocks plummeted due to the “CPI shock,” and the yen temporarily rose to the 153 yen level, and NVIDIA went retrograde

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The Dow Average is drastically lower than the US CPI, and expectations for interest rate cuts have receded further = US stock overview
The Dow Average was drastically low in the NY stock market on the 10th. There was also a scene where it fell by over 500 dollars at one point. Since the March US Consumer Price Index (CPI) announced on this day exceeded expectations, expectations for interest rate cuts by the FRB have further receded.
Related articles:US core CPI rises for 3 consecutive months - there is a possibility that US interest rates will fall behind

The yen fell to the first half of the 153 yen level at one point to the depreciation level of the yen for the first time in 34 years
The yen fell against the dollar in the New York Foreign Exchange Market on the 10th, hitting the first half of the $1 = 153 yen range at one point. The yen depreciated and the dollar rose for the first time in about 34 years since 1990/6. The rate of increase in the consumer price index (CPI) for March announced by the US Department of Labor on the 10th exceeded market expectations, and observations intensified that it would be difficult for the US Federal Reserve (Fed) to move to cut interest rates at an early stage.

Goldman revises US interest rate cut forecast from 3 times a year to 2 times a year - due to an increase in CPI
$Goldman Sachs (GS.US)$Economists changed this year's US interest rate cut forecast from 3 times to 2 times in response to the fact that the US consumer price index (CPI) for March grew more than expected.

NVIDIA goes retrograde under “CPI shock”
The stock market was once again shaken by the risk of rekindling inflation. While a wide range of stocks were being sold, the adjustment phase had entered the day before $NVIDIA (NVDA.US)$showed a surprising amount of stickiness.

List of major US banks Q1 earnings forecasts! Will the Fed's interest rate cut observations retreat, and will the Bank of America increase profits?
This Friday, $JPMorgan (JPM.US)$、 $Citigroup (C.US)$、 $Wells Fargo & Co (WFC.US)$The three banks will announce 2024 Q1 financial results, and the banking Q1 financial season will begin. Since the possibility that the US Federal Reserve (Fed) will keep the base interest rate cut slightly has increased, it is expected that major banks in the US will profit more than expected from lending operations this year.