Yesterday, the US stock market experienced ups and downs. At the open, the three major indices plummeted collectively due to news of the US Department of Justice's criminal investigation into Federal Reserve Chair Jerome Powell, causing concerns that this could weaken the Fed's independence and triggering a sell-off. However, as the market gradually digested the risks, sentiment quickly reversed. By the close, the Dow rose 0.17%, the S&P 500 increased by 0.16%, both hitting new all-time highs; the Nasdaq Composite gained 0.26%.

However, bank stocks were turned away. Trump previously proposed a plan to set the credit card interest rate cap at 10% for one year, which directly pressured the banking sector. Citigroup fell nearly 3%, while JPMorgan Chase and Bank of America both declined over 1%.

Safe-haven sentiment pushed up precious metals. On the 12th, gold broke through the $4,600 per ounce level for the first time, and silver futures rose over 7%. Geopolitical risks and the Fed investigation turmoil drove funds out of risk assets and into safe-haven metals. In the energy sector, March-dated London Brent crude oil futures closed at $63.87 per barrel, up 0.84%.

Meanwhile, Chinese concept stocks surged collectively. The Nasdaq Golden Dragon China Index rose over 4%, with Alibaba leading the gains with over 10%, Bilibili up nearly 9%, and XPeng Motors up over 8%. Baidu and Weibo increased over 6%, JD.com over 4%, and Li Auto also rose over 2%. The strong performance of China's internet and new energy sectors was a highlight of yesterday's A-shares concept.