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On Monday evening, the U.S. stock market once again saw all three major indices decline, further continuing the downtrend following last week's Federal Reserve interest rate hike.

Currently, all three major indices have experienced a five-day losing streak. The Dow Jones Industrial Average, which had the smallest year-to-date decline, has also fallen over 20% from its peak, indicating that all three major U.S. stock indices have plummeted and are now in a technical bear market.

At the beginning of this year, the Dow Jones Industrial Average reached its highest at 36,952 points, and it currently stands at only 29,260 points, having fallen by 7,700 points.

Last night, the Dow Jones Industrial Average had the largest decline, followed by the S&P 500, while the Nasdaq Composite had the smallest decline, down by 0.6%.

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Last night's tech giant stocks experienced both gains and losses, avoiding a widespread collapse. Meta and Nvidia fell by more than 2%, while Apple, Tesla, and Amazon saw slight increases.

Due to further declines in international crude oil prices, energy sector stocks fell last night, with ExxonMobil, BP, Shell, and Chevron all falling by more than 2%.

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In the European stock market, which closed earlier, the largest decline was in Russia, down by 8.6%. Due to additional uncertainties in the European conflict, Russia's stock market has been quite volatile in recent trading sessions. The Moscow Exchange Index closed below 2,000 points for the first time in five years.

Among the three major European stock indices, the UK remained slightly up, while France and Germany fell between 0.2% and 0.5%.The most noteworthy event in the European financial market, without a doubt, is the sudden and significant drop in the value of the British pound.

Yesterday, the pound reached its lowest point at 1.032, marking the lowest record in nearly 51 years since 1971. However, the rise in the US Dollar Index was not substantial yesterday, and the exchange rate changes of the dollar against the other five major currencies were far less significant than those against the pound.

The renewed significant decline in the pound is likely a sudden outbreak following a long accumulation of economic issues, with the recent catalyst being the UK's announcement of a large-scale tax cut.

Nevertheless, due to the subsequent statement by the Bank of England that it would respond quickly and significantly alter interest rates if there were substantial changes in financial prices, the market has anticipated that the UK may still raise interest rates significantly, allowing the pound's exchange rate to rebound.

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The increasing yield on US Treasury bonds indicates a continuous decline in their prices, with waves of selling US bonds in the market growing higher.

Some traders claim that they may never have seen US bonds being sold off to such an extent in their lifetime.

The yield on 10-year US Treasury bonds has reached 3.93%, increasingly approaching 4%. This is also the highest record since 2010.

After breaking through 4% in the previous two weeks, the yield on two-year US Treasury bonds has continued to rise and has now reached 4.36%, marking a new high since 2007.Additionally, it is quite evident that the two-year U.S. Treasury yield is significantly higher than the 10-year U.S. Treasury yield, with the inversion becoming increasingly severe, indicating the growing severity of the U.S. economy entering a recession.