The current market is Jackson Hole rather than NVIDIA's favorable financial results

NVIDIA's stock price evolved after financial results were announced. The entire market also plummeted. Apparently QT (quantitative tightening), which began in June last year, has begun to take effect. The background is that government deposits, which had continued to decline due to the debt ceiling issue, have been revived, and absorption from private sector deposits has begun. Even with the same money, government deposits do not lend themselves to loans, and private sector deposits are the source of loans. In short, the presence or absence of credit leverage is different. If QT starts to work, the rise will be suppressed, and it is inevitable that the stock market as a whole will become heavy.
Jackson Hole schedule: ① Fed Chairman Powell's speech (structural transformation of the world economy) at 8:05 a.m. on the 25th (11:05 p.m. today), ② ECB President Lagarde's speech (Europe and the world economy) at 1:00 p.m. on the 25th (Tokyo tomorrow 26th at 4:00 a.m.), ③ Bank of Japan President Ueda Panel Debate (inflection point of globalization) at 10:25 a.m. on the 26th (1:25 a.m. on Tokyo 27th)