Overnight US stocks | In May, the U.S. CPI returned to the "4% range", hitting a three-year high. The three major indexes plummeted, and spot gold fell below the $4100 mark.

On Wednesday, the three major indexes fell. Previous data released by the US Department of Labor showed that in May, the US CPI rose by 4.2% year-on-year, the largest increase since April 2023. Compared to the previous month, prices rose by 0.5%, with a previous increase of 0.6% in April. When asked by reporters if he was concerned about the latest inflation data announced today, US President Trump said: "No, I like it. I love inflation." The latest data shows that the US May CPI rose to 4.2% year-on-year, hitting a three-year high, while the core CPI annual rate hit the highest since September last year. [America Stock Market] At the close, the Dow fell 953.51 points, a decrease of 1.87%, to 49918.60 points; the Nasdaq fell 509.32 points, a decrease of 1.98%, to 25169.50 points; the S&P 500 Index fell 119.67 points, a decrease of 1.62%, to 7266.98 points. Super Micro Computer, Inc. (SMCI.US) fell nearly 28%, Tesla, Inc. (TSLA.US) and NVIDIA Corporation (NVDA.US) fell by more than 3%. The Nasdaq Golden Dragon Index fell by 0.28%, while NetEase Inc Sponsored ADR (NTES.US) rose by nearly 4%. [European Stock Market] The Germany DAX30 index fell 217.10 points, a decrease of 0.89%, to 24200.97 points; the UK FTSE 100 index rose 22.61 points, an increase of 0.22%, to 10249.94 points; the French CAC40 index fell 41.60 points, a decrease of 0.51%, to 8161.83 points; the Euro Stoxx 50 index fell 35.18 points, a decrease of 0.58%, to 6014.56 points; the Spain IBEX35 index fell 47.63 points, a decrease of 0.26%, to 18139.07 points; the Italy FTSE MIB index fell 252.26 points, a decrease of 0.50%, to 50010.50 points. [Asian Stock Market] The Nikkei 225 index fell by 1.89%, the Korea Composite Stock Price Index fell by 4.52%, and the India Sensex index fell slightly. [US Dollar Index] The US dollar index, which measures the dollar against six major currencies, fluctuated slightly throughout the day, hovering around 100.02 in the currency market. [Cryptocurrency] Bitcoin fell below $61,000, at $60,775; Ethereum hit a low of $1606.14. [Crude Oil] International oil prices rose significantly on the 10th. WTI crude oil futures rose by 4.14% to $91.85, while Brent crude oil futures rose by 3.56% to $94.71. [Precious Metals] Spot gold fell below the $4100 mark, hitting a new low since November last year, closing down 4.45% at $4070.65. Spot silver fell by 0.04% to $63.381. [Macro News] US May tariff income and refunds were almost flat. The US Department of the Treasury stated on Wednesday that the US government's net tariff income in May was approximately zero. Treasury data showed that the US government collected $22 billion in tariffs that month, roughly the same as in May 2025. However, at the same time, the US government also paid out $22 billion in tariff refunds. Year-to-date, tariff net income for this fiscal year (starting on October 1, 2025) is $189 billion, higher than the $81 billion for the same period last year. The US Department of the Treasury said that after adjusting for calendar factors, the budget deficit for the first eight months of this fiscal year has decreased by 2% compared to the same period last year, equivalent to about $24 billion. Officials: Trump War Room Mulls "Brutal Strike" Against Iran to Pressure It to Change Position. According to reports, two US officials said that on Wednesday afternoon, Trump held a meeting in the war room to discuss a possible new round of strikes against Iran. Just hours before, he told reporters that the US would "hit them hard again today." The officials said that one of the options Trump is considering is launching a large-scale but short-duration operation to pressure Iran to change its position in negotiations. Attending the war room meeting were Pence, Rubio, the director of the CIA, Chairman of the Joint Chiefs of Staff Dan Kane, White House envoy Whitkoff, and other senior officials. Secretary of Defense Hessey participated in the meeting via video. US Oil Release Plan has 40 million barrels left. The U.S. Energy Department said on Wednesday that the United States is seeking to lend up to 40 million barrels of strategic petroleum reserve (SPR) to energy companies to help lower fuel prices. This plan is part of a previous agreement to release 172 million barrels of SPR. As of now, the US has lent about 133 million barrels of crude oil under the agreement. In March of this year, following the US and Israel's attack on Iran on February 28th, the US reached an agreement with about 30 member countries of the International Energy Agency to jointly release about 400 million barrels of strategic reserves to help stabilize the international oil market. The current US SPR inventory is 349.2 million barrels, the lowest level since August 2023. Companies borrowing crude oil must return the same amount of crude oil and pay a premium of up to 24% in additional crude oil. [Individual Stock News] US Department of Justice investigates large US banks for closing customer accounts for political reasons. According to reports, sources familiar with the matter revealed that the US Department of Justice has issued subpoenas to several large US banks, including JPMorgan Chase (JPM.US) and Bank of America Corp (BAC.US), requesting information on whether there is a practice of "canceling bank services," namely whether customer accounts are improperly closed for political reasons. These subpoenas issued by the US Attorney's Office for the District of Columbia, led by Jenny Perot, mark an escalation of the investigation pushed by Trump, which aims to determine whether banks discriminated against conservative individuals and politically controversial industries (including businesses related to the Trump family itself). Trump had previously stated that JPMorgan Chase and Bank of America Corp closed his bank accounts after the Capitol riot at the end of his first term, and refused to open new accounts for him. In August of last year, Trump signed an executive order directing bank regulatory agencies to investigate whether Financial Institutions, Inc. engaged in "politically biased or unlawful cancelation of banking services" and take appropriate measures, including imposing fines. Media: US Senators Write Letter Urging SEC to Postpone SpaceX IPO. According to reports, the market is closely watching SpaceX (SPCX.US) as it prepares to start trading publicly on Friday, with Wall Street expecting Musk's rocket and AI giant to raise over $74 billion from eager investors. However, the latest report indicates that US Senator Warren is the latest to be skeptical of the IPO, noting potential risks to retail investors. Warren wrote a letter to SEC Chairman Atkins on Tuesday, hoping that the committee could postpone SpaceX's IPO. In the letter, she wrote that the IPO "appears to pose significant risks to average investors and their retirement savings."