1. US September PPI up 6.3% year-on-year, far exceeding expectations; initial jobless claims fall to 199,000
The US Producer Price Index (PPI) rose by 6.3% year-on-year in September, with an estimated value of 5.3% and a previous value of 5.4%.
2. Bank of Russia to ban direct P2P crypto trading for individuals from July 2027
The Bank of Russia stated that arrangements for individuals to conduct direct peer-to-peer (P2P) crypto asset transactions will continue until July 1, 2027. After that, related transactions must be conducted through authorized intermediaries, and individuals will not be allowed to transfer crypto assets from digital accounts to self-custody wallets. Sberbank has been approved to offer crypto asset trading services. Russia’s new crypto asset regulatory rules took effect on September 1, bringing trading operators and custodians under the supervision of the Bank of Russia. The country prohibits the use of cryptocurrency to pay for goods and services. Samson Mow noted that P2P transactions are more resistant to regulatory crackdowns than centralized platforms.
3. Philadelphia Semiconductor Index loses over $2 trillion in market value in seven trading days
The Philadelphia Semiconductor Index saw more than $2 trillion in market value evaporate over seven trading days.
4. Mixed US stock market open: Dow up 233 points, Nasdaq down 331 points
US stocks opened with the Dow up 233 points, the Nasdaq down 331 points, and the S&P 500 Index down 0.44%.
5. US Bitcoin ETF net outflow of 3,209 BTC, Ethereum ETF net outflow of 38,900 ETH
Today, US Bitcoin ETF saw a net outflow of 3,209 BTC, with a 7-day net outflow of 5,250 BTC; Ethereum ETF saw a net outflow of 38,900 ETH, with a 7-day net outflow of 133,500 ETH.
6. BlackRock CEO Larry Fink warns that AI data center construction stagnation may trigger US recession
BlackRock CEO Larry Fink warned that stagnation in AI data center construction could induce a US economic recession. The crypto market saw $483 million in futures liquidations. Hyperliquid founder Jeff Yan called for regulation of the application layer rather than blockchain itself.
7. Cleveland Fed President Loretta Mester: If inflation expectations become entrenched, the Fed will need tougher rate hikes
Cleveland Fed President Loretta Mester stated that if businesses and households expect high inflation to persist, the Fed will need to act more aggressively. She prefers to raise rates modestly and early to avoid inflation expectations becoming entrenched.
The above are the top highlights from the past 24 hours.
