On November 14th, this Friday, the global market put on a "collective plummet" show. The reason? Several officials from the Fed consecutively made statements that extinguished the market's fantasies about a rate cut in December.

How did it turn out? The major stock indices in Tokyo, Paris, and London all plummeted, each worse than the last. The UK is even worse off, having to absorb the heavy blow from the Fed, plus worrying about its own upcoming fiscal budget, a double whammy that makes it hard to breathe. US stock futures didn't escape either, showing a lower opening before the market, knowing that just the day before there had been a sharp drop.

Precious metals have not escaped this disaster, dropping along with the stock market. The cryptocurrency market has also been affected, with a clear overall pullback.

Jeremy Stretch, who is responsible for forex strategy at CIBC Markets, said directly: "Now the market is once again entangled in whether the rate will be cut in December, with the probability returning to a fifty-fifty split. Coupled with concerns over the AI bubble, the entire market is in chaos. The volatility this month was already significant, and now it's even harder to stabilize."

When it rains, it pours; now the White House adds to the woes—saying that the unemployment data for October may never be compiled. This is great; the market feels even more that the Fed will continue to wait and delay, insisting on clearer data before taking action. The question is, when will the data be clear? Isn't this just prolonging the agony?

In simple terms, the current market is being tormented by expectations, jumping up and down. With no signs of interest rate cuts and unclear economic data, it's no wonder that investor sentiment is poor.