Overnight US stocks | Probability of the Fed hiking interest rates by the end of the year exceeds 80%, three major indexes closed lower, Micron Technology, Inc (MU.US) increased by 2.52%.

On Tuesday, the three major indexes continued to decline this week. The 30-year US Treasury bond yield broke through 5.19% on Tuesday, reaching the highest level since the eve of the American Financial Group, Inc. crisis in 2007. Traders currently expect the probability of the Federal Reserve raising rates by the end of 2026 to be over 80%. [American Stock Market] At the close, the Dow fell 322.24 points, or 0.65%, to 49363.88 points; the Nasdaq fell 220.02 points, or 0.84%, to 25870.71 points; the S&P 500 fell 49.39 points, or 0.67%, to 7353.66 points. Micron Technology, Inc. (MU.US) rose 2.52%, NVIDIA Corporation (NVDA.US) fell 0.77%, Tesla, Inc. (TSLA.US) fell 1.43%, and Sandisk (SNDK.US) rose 3.77%. [European Stock Market] The German DAX30 index rose 139.69 points, or 0.58%, to 24387.27 points; the UK FTSE 100 index fell 5.07 points, or 0.05%, to 10318.68 points; the French CAC40 index fell 5.73 points, or 0.07%, to 7981.76 points; the Euro Stoxx 50 index fell 3.50 points, or 0.06%, to 5845.50 points; the Spanish IBEX35 index fell 99.89 points, or 0.56%, to 17655.21 points; the Italian FTSE MIB index fell 343.55 points, or 0.71%, to 48325.50 points. [Asian Stock Market] The Nikkei 225 index fell 0.44%, the KOSPI index fell 3.25%, the Sensex index fell 0.15%, and the Straits Times index rose 1.51%. [US Dollar Index] The US Dollar Index, measuring the US dollar against six major currencies, rose 0.14% to close at 99.326 in the forex market. At the close of the New York forex market, 1 euro exchanged for 1.1604 US dollars, lower than the previous trading day's 1.1637 US dollars; 1 pound exchanged for 1.3397 US dollars, lower than the previous trading day's 1.3411 US dollars. 1 US dollar exchanged for 159.06 yen, higher than the previous trading day's 159.01 yen; 1 US dollar exchanged for 0.7892 Swiss francs, higher than the previous trading day's 0.7856 Swiss francs; 1 US dollar exchanged for 1.3750 Canadian dollars, higher than the previous trading day's 1.3749 Canadian dollars; 1 US dollar exchanged for 9.4055 Swedish krona, lower than the previous trading day's 9.4093 Swedish krona. [Cryptocurrency] Bitcoin hovered around $77,000, trading at $76,738.9; Ethereum fell over 1.3%, trading at $2135.74. [Crude Oil] Light crude oil futures for June delivery on the New York Mercantile Exchange fell 89 cents to close at $107.77 per barrel, down 0.82%; Brent crude oil futures for July delivery fell 82 cents to close at $111.28 per barrel, down 0.73%. [Precious Metals] Spot gold fell below $4500, trading at $4480.62 per ounce; spot silver traded at $73.702 per ounce. [Macro News] Trump: Iran is running out of time; the US may take action against Iran again. President Trump said on Tuesday that the US may need to take military action against Iran again, with only one hour left to issue the attack order before delaying the strike. Trump told reporters at the White House, "I am just one hour away from issuing the attack order today." He also said that Iranian leaders are begging for a deal, but if an agreement cannot be reached, the US will launch another attack in the coming days. Trump said, "I mean, it will probably take two to three days, maybe Friday, Saturday, Sunday, or early next week, a short period of time, because we cannot let them have new nuclear weapons." The number of existing homes for sale in the US has risen for the third consecutive month. In April, the inventory of existing homes in the US rose for the third consecutive month, indicating strong potential demand at the beginning of the spring sales season. Data shows that the National Association of Realtors' Pending Home Sales Index rose by 1.4% to a five-month high of 74.8 in April. The report noted that as housing affordability has gradually improved since mid-2025, the real estate market is gradually improving as it enters the busiest sales season of the year. However, low-income homebuyers still face challenges due to high mortgage rates and high listing prices. Lawrence Yun, Chief Economist at the National Association of Realtors, said in a statement, "Despite the increasingly unstable economic situation and slightly rising mortgage rates, homebuyers are entering the market cautiously optimistic." SEC lowers threshold in a bid to "revive IPOs". The Securities and Exchange Commission (SEC) on Tuesday proposed two new rules that aim to make it easier for companies to go public through IPOs. The SEC said that this is the largest IPO rule reform in the past 20 years and is part of Chairman Paul Atkins' push to "revive IPOs". The new rules include relaxing financing mechanisms and disclosure requirements. On one hand, small businesses may find it easier to conduct shelf offerings, making it more flexible for them to raise funds. On the other hand, information disclosure requirements for small businesses will be relaxed, and large businesses will have at least a 5-year transition period before gradually complying with stricter disclosure standards. The SEC hopes that by making these adjustments, they can lower the threshold for going public and encourage more companies to return to the public market. Powell getting ready to take office; accelerates completion of financial asset divestiture commitment. Before taking office as Federal Reserve Chairman, Kevin Powell has sold most of the financial assets he committed to divest. The latest government documents show that this is an important step to resolve controversies during his nomination process. As one of the wealthiest Federal Reserve officials in history, Powell received a "asset divestiture certificate" issued by the Office of Government Ethics (OGE) on May 16. The document shows that he has sold investment holdings worth at least $1 billion, but the underlying assets of these investments were not disclosed before. However, the document omitted two assets that Powell had committed to selling before taking office, each valued between $250,000 and $500,000. Based on the financial disclosure documents submitted by Powell during the nomination process, his assets amount to at least $192 million. However, due to the use of ranges in the declaration, it is widely believed that his actual wealth may be higher. Samsung's 15-hour negotiations with the union have not reached a conclusion and will continue on Wednesday. The National Labor Relations Commission of South Korea stated that Samsung Electronics and its South Korean union will resume negotiations on Wednesday, with both sides making progress towards reaching an agreement to avoid a destructive and prolonged strike. When asked why the 15-hour negotiation on Tuesday did not result in an agreement, the chairman of the commission stated, "Management and the union have not reached consensus on one issue. Samsung and the union plan to resume negotiations at 10 am local time on Wednesday, and the negotiations are likely to end on Wednesday morning, as the union needs to vote on any preliminary agreement reached with Samsung." The negotiations on Tuesday were scheduled to end at 7 pm. The commission stated that the negotiations lasted nearly 15 hours, ending at 12:30 am on Wednesday. Union leaders said they planned to stay overnight at the negotiation venue to participate in the negotiations on Wednesday. The union plans to start an 18-day strike from Thursday. [Stock News] Alphabet Inc. Class C (GOOG.US, GOOGL.US) significantly reduces the price of AI models to compete against OpenAI and Anthropic. In the midst of increasingly fierce competition in artificial intelligence, Alphabet Inc. Class C is directly challenging OpenAI and Anthropic by "lifting competitive restrictions" on AI model pricing at the I/O developers conference. In order to attract software developers and corporate clients to use its AI models, Alphabet Inc. Class C is offering lower prices and a stronger programming toolset combination. At the same time, the company is introducing an entry-level AI Ultra subscription tier for $100 per month to bridge the gap between consumer and professional levels, and lowering the price of the high-end AI Ultra subscription from $250 to $200. Unlike Anthropic's high-end premium pricing strategy, Alphabet Inc. Class C CEO Pichai said that the company's low-priced models will provide most of the high-end security and programming capabilities at a lower cost. Although Alphabet Inc. Class C's strongest model has always been called "Ultra," the company is now expanding its capabilities to the lower-priced "Flash" and "Pro" series. Apple Inc. (AAPL.US) new hardware director adjusts product design oversight structure, triggering a major shuffle at the top, involving self-developed chip engineering. According to sources, Apple Inc.'s Chief Hardware Officer, Johny Srouji, is restructuring the hardware development department to accelerate the research and development process of future new devices. Srouji is adjusting the management structure of the product design team, transferring the jurisdiction of the business from Kate Bergeron to his deputies Shelly Goldberg, Dave Pakula, and Richard Dinh. This change also involves the transfer of supervisory rights over other core functions such as product reliability, self-developed chip engineering, and advanced technology divisions, with several senior executives fulfilling new or expanded roles in the new structure.