The US stock market continues to decline, with the Nasdaq falling by 1.00%.

On August 29th, the U.S. stock market maintained its downward trend, with the Nasdaq declining by 1.00%. Joanne Hsu, the director of the University of Michigan Consumer Survey, said that the final value of the U.S. Consumer Confidence Index was in line with the preliminary value, showing a decrease of approximately 6% from July. Although the current index is about 11% higher than the levels in April and May, it is still at least 10% lower than it was six and twelve months ago. The decline this month was widespread among different age groups, income levels, and stock wealth groups, and the public's views on various aspects of the economy have become worse. Due to the increased concern about high prices, the purchasing conditions for durables have dropped to the lowest point in a year, and the current personal financial conditions have decreased by 7%. Expectations for business conditions and the labor market also contracted in August. However, although it is relatively calm compared to a year ago, personal financial expectations for this month remained unchanged. It is worth noting that very few consumers voluntarily mentioned recent events from the Bureau of Labor Statistics and the Federal Reserve (the survey was conducted until Monday, August 25th, the day President Trump announced the dismissal of Fed Governor Powell). (FX678)