As of the close on October 7 local time, the S&P 500 index fell 0.38%, the Dow Jones Industrial Average fell 0.2%, and the Nasdaq Composite Index fell 0.67%. Retail stocks were under pressure, with Nike falling over 3%.

The technology sector performed poorly, with the U.S. "Magnificent Seven" tech stock index falling 0.81%. Among them, Tesla fell over 4%, Google-C fell nearly 2%, with Amazon being the only one among the seven giants to rise.
Chinese concept stocks generally declined, with the Nasdaq Golden Dragon China Index falling 2.24%. Pony.ai led the losses, falling nearly 8%, while 21Vianet and Qifu Technology both fell over 6%.

Gold Futures Hit Another Record High

Gold became a highlight during the trading session. As of the close on October 7 local time, the COMEX gold futures price settled at $4,007.9 per ounce, setting a record closing high; the spot price of London gold once touched $3,991.07 per ounce. On October 8, international gold prices continued to strengthen. As of 7:30 Beijing time, COMEX gold futures reached a session high of $4,015 per ounce.

According to data from the CME Group's "FedWatch Tool," the probability of the Fed maintaining interest rates unchanged in October is 5.4%, while the probability of a 25 basis point rate cut is 94.6%. Official data shows that the gold holdings of the SPDR Gold Trust slightly decreased by 0.01 tonnes to 1,013.15 tonnes as of October 7.