Recently, the global financial market has shown a complex and variable situation. The latest minutes from the Fed indicate that officials have differing opinions on the direction of monetary policy. Most officials support continuing to raise interest rates to control inflation, but some are concerned about the risks that excessive tightening may bring. The market generally expects the Fed to pause interest rate hikes in September, but the likelihood of a rate cut within the year is almost zero.

At the same time, the artificial intelligence sector continues to maintain strong growth momentum. The latest financial report released by Nvidia shocked the market, with a year-on-year revenue growth of 100% in the second quarter, far exceeding expectations. The revenue from the data center business surged by 171%, highlighting the explosive growth in demand for AI chips. The company's CEO, Jensen Huang, stated that the new generation of AI chips is accelerating production.

In the automotive industry, Tesla has once again initiated a price war. The company has significantly reduced the prices of the Model S and Model X in the Chinese market, with a maximum reduction of 150,000 yuan. Analysts believe that this move may be aimed at clearing inventory in preparation for the upcoming new Model 3.

In the U.S. stock market, all three major indices experienced declines. The Dow Jones Industrial Average fell by 0.51%, the S&P 500 index dropped by 0.76%, and the Nasdaq Composite index decreased by 1.15%. U.S. Treasury yields climbed to their highest levels since 2008, putting pressure on tech stocks.

It is worth noting that Fitch Ratings has warned of a potential downgrade of the credit ratings of dozens of banks, including JPMorgan Chase, highlighting the continued risks in commercial real estate. In addition, the US dollar index has reached a new two-month high, putting pressure on the renminbi exchange rate.

Overall, the high interest rate environment may persist for a longer period of time. The booming development of the artificial intelligence industry stands in stark contrast to the cooling of the real economy, suggesting that investors should maintain a cautious attitude in the current market environment.