The headline news that was jointly reported by global financial media last night and this morning mainly included:

The Fed plans to amend the capital reform proposal, and the impact on large banks will be half as much as the initial plan.

Federal Reserve officials said that the US regulatory agencies will comprehensively revise the bank capital reform draft, with the impact on large banks expected to be reduced by half from the initial plan, and small banks may be exempt from a large portion of the measures.

The proposed revisions will be previewed by Michael Barr, Vice Chairman of the Federal Reserve responsible for regulation, with the original plan to increase the capital of the eight largest banks by 19% being reduced by half. Citigroup, Bank of America, JPMorgan and other banks will be required to raise their buffer capital by 9%.

The proposed reform may alleviate the key concerns of Wall Street banks. After the Federal Reserve and two other financial regulatory agencies first issued capital plans in July 2023, Wall Street banks engaged in intense lobbying activities. The revision of the capital reform plan may also help avoid long-term legal battles with the industry. The banking industry believes that the initial plan would harm the economy and weaken the position of US banks relative to international competitors and non-bank lending institutions.

Harris-Trump debate viewing guide: The wind is rustling and the waves are rising, performance will be the first hint.

Democratic presidential candidate Kamala Harris and Republican opponent Donald Trump will have their first and perhaps only face-to-face debate in Philadelphia on Tuesday evening, Eastern Time (Wednesday morning in Peking), before the November election.

This duel is significant and may introduce further uncertainties to the already volatile election. Even before the clash begins, traders have entered an anxious mode, with the volatility index of the US dollar and the fear gauge of US stocks both soaring.

When the two engage in debate, observers can also judge their initial impression on the market through the real-time trend of Bitcoin.

Nvidia CEO Huang Renxun's speech on Wednesday will be closely watched by investors, who are eager for the latest progress on the Blackwell chip. They hope for a catalyst to stop the stock's decline. The next-generation processor was originally scheduled to be released six months ago, but was delayed due to engineering issues. Although CEO Huang Renxun attempted to reassure the market last month by stating that revenue from this chip would arrive soon, some investors still want to know the details. This factor, combined with anxiety about the overall macroeconomy, has caused the stock to fall by 13% since the financial report was released. Huang Renxun is scheduled to speak at the Goldman Sachs conference in San Francisco on Wednesday, with questions about Blackwell expected to be a focal point. He plans to speak with Goldman Sachs CEO David Solomon at 7:20 AM local time.

Nervous Nvidia investors are eager for the latest developments regarding the company's Blackwell chip development, hoping for a catalyst to curb the stock's decline.

This next-generation processor was scheduled for release six months ago but was delayed due to engineering issues. Although CEO Huang Renxun attempted to reassure the market last month, stating that revenue from the chip would arrive soon, some investors are still eager for details. This, combined with the overall macroeconomic uncertainty, has led to a 13% decline in the stock since the financial report was released.

Huang Renxun will give a speech at the Goldman Sachs conference in San Francisco on Wednesday, and questions about Blackwell will be a focal point of attention. He plans to have a conversation with Goldman Sachs CEO David Solomon at 07:20 local time.

JPMorgan is leading the wave of preferred stock redemptions on Wall Street, reallocating capital ahead of the arrival of Basel rules.

JPMorgan is leading a historic wave of preferred stock redemptions as Wall Street banks reposition their balance sheets ahead of the impending significant shrinkage caused by new regulations.

The bank plans to redeem $1.6 billion of preferred stock next month, reducing its preferred stock by more than a quarter this year. Bank of America has redeemed billions of dollars of preferred stock, exceeding the amount it raised this year, resulting in a approximately 13% decrease in such securities. Preferred stock is a subordinated security, similar to European Additional Tier 1 (AT1) capital bonds, which count towards regulatory capital.

Banks have spent years increasing Tier 1 capital based on expectations of rule adjustments after the financial crisis. Now, they are cutting back on securities used to supplement such capital, as the final version of the framework -- Basel III -- will not be as burdensome as the initial version. For banks, redeeming preferred stock to reduce Tier 1 capital is the fastest way to reduce costs associated with raising capital and may improve their performance.

UBS strategist expects the S&P 500 index to fall by at least 10%.

The head of the UBS Group's US stock derivative strategy said that she expects the S&P 500 index to drop by at least 10% from its peak within a month.

"I'm tactically bearish for the next two months," Rebecca Cheong wrote in a report to clients on Tuesday. "Slightly disappointing upcoming economic data could trigger a massive pullback."

She recommended that investors buy ETF tail hedges to prevent losses, and listed iShares Russell 2000 ETF (IWM), Financial Select Sector SPDR Fund (XLF US), and iShares iBoxx High Yield Corporate Bond ETF (HYG) as preferred options.

JPMorgan CEO: The worst outcome is stagflation, and it could still happen.

JPMorgan CEO Jamie Dimon said on Tuesday that despite increased confidence in the recent decline in inflation from its peak, he does not rule out the possibility of the US economy falling into stagflation.

Dimon told the Council of Institutional Investors at its autumn meeting in Brooklyn, New York, "I want to say, the worst-case scenario is stagflation - that is, economic recession, rising inflation. By the way, I do not rule out the possibility of this happening."

As the CEO of the largest bank in the USA made the above remarks, American investors are turning their attention to signs of slowing growth.