TradingKey - 美东时间上午9：30，美股开盘承压，利率预期重定价引发多资产同步承压。随着市场逐步放弃对2026年降息的押注，美联储“高利率维持更久”的预期迅速升温，三大股指期货集体走低。
截至盘前，标普500指数期货、纳斯达克指数期货及道琼斯指数期货均出现不同程度下跌，高估值成长板块承压尤为明显。
MG7开盘整体承压下行。
利率路径上修直接抬升贴现率，对科技股估值形成压制，是本轮回调的核心驱动。
与此同时，避险资产表现同样分化。黄金与白银双双跌破关键支撑位，金价失守4600整数关口，白银价格暴跌近12%，跌破70整数关口。显示在流动性趋紧环境下，资金更倾向于持有现金及美元资产，而非传统贵金属。
宏观层面看，近期美国通胀数据持续超预期，叠加中东局势推升能源价格，使市场重新评估通胀路径。通胀粘性与外部冲击的叠加，正在削弱短期内宽松政策的可行性。
在政策不确定性与地缘风险共振的背景下，风险资产短期波动或将进一步放大。
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