U.S. stocks fell on Friday as investors sought safety after the United States warned Russia could take military action against Ukraine as early as next week. Rising Russia-Ukraine tensions weighed on risk assets, with the S&P 500 down 1.9% and the Nasdaq 100 down more than 3%, both posting their biggest two-day losses since 2020. Inflation data last Thursday led some traders to speculate that the Federal Reserve may raise interest rates before its March meeting. However, the fourth round of tapered bond purchases released by the New York Fed on Friday showed that the central bank intends to carry out a final round of operations before ending its bond-buying program next month, effectively shattering such speculation.

Inflation worries weighed on U.S. consumer confidence. University of Michigan consumer sentiment fell further in early February to a 10-year low as views on personal finances deteriorated. Sam Stovall, chief investment strategist at CFRA Research, said: "Investors are concerned that the economy is slowing at the worst possible time, just as the Federal Reserve is about to raise interest rates, which could pose a threat to healthy economic growth and a bull market. Combined with the geopolitical tension, I think this is is a major cause of market volatility.

This week (the week from February 14th to February 20th), the market will usher in a number of heavy data, including China's January PPI. CPI data, the United States will announce the January PPI data, while the CPI data of the United Kingdom, Japan, Canada and other countries will also be released this week. In terms of major central banks, this week, European Central Bank President Christine Lagarde will participate in the European Parliament debate on the central bank's 2020 annual report, the Federal Reserve will release the minutes of its January meeting, and Fed officials will continue to make their own monetary policy propositions.

Since the Fed's January FOMC meeting has basically abandoned forward-looking guidance in addition to saying that it will start raising interest rates "soon", the minutes of the upcoming meeting can focus on the pace of further interest rate hikes by the Fed after the March rate hike and how to shrink the balance sheet. about expressions. At the same time, investors will also pay close attention to the development of the situation in Russia and Ukraine. White House officials warned on Friday local time that "a full-scale Russian invasion could occur as early as next week," triggering market volatility. Investors are weighing the pros and cons of stubborn challenges such as job gains, high inflation, rising U.S. bond yields and geopolitical uncertainty.

① On Tuesday (February 8), Japan's fourth-quarter seasonally adjusted real GDP, the UK's December three-month ILO unemployment rate, the UK's January unemployment rate, the euro area's fourth-quarter seasonally adjusted GDP, Germany's February ZEW economy Prosperity Index, Eurozone December Seasonally Adjusted Trade Account, Eurozone February ZEW Economic Sentiment Index, US January PPI Annual Rate, ECB President Lagarde’s speech, Federal Reserve Board of Governors closed-door meeting, RBA monetary policy meeting announced Minutes, the U.S. Senate Banking Committee voted on Powell's nomination for Fed chairman, as well as on the nominations of four other Fed officials.

② Wednesday (February 8), China’s January PPI and CPI annual rate, the UK’s January unseasonably adjusted input PPI and CPI annual rate, the UK’s January retail price index, Canada’s January CPI annual rate, the United States’ January retail sales, the United States’ January Import price index, U.S. industrial output in January.

③Thursday (February 10), Japan's commodity trade account was not adjusted seasonally in January, Australia's unemployment rate after seasonal adjustment in January, Australia's January RBA foreign exchange transaction, the United States' January construction permit, the Federal Reserve FOMC released the minutes of monetary policy meeting, the European Central Bank Publish the Economic Bulletin.

④ Friday (February 11), Japan’s national CPI annual rate in January, the UK’s monthly retail sales rate after seasonal adjustment in January, Canada’s December retail sales, the annualized total of existing home sales in the United States in January, and consumer confidence in the euro zone in February Indices, 2022 FOMC votes, St. Louis Fed President Bullard speech on U.S. economic and monetary policy outlook, 2022 FOMC votes, Cleveland Fed President Mester speech on U.S. economic and monetary policy outlook, 2023 FOMC votes Commission, Chicago Fed President Evans, and Fed Governor Waller delivered speeches.