The US stock market experienced a "flash crash" before Christmas, with a thrilling but ultimately safe eight-week rally. After Nike's earnings report, the stock plummeted by 10%, and global gaming stocks experienced a sharp decline during trading hours.

SPDR S&P 500 approaches historical highs, marking the longest weekly gain since 2017; Nike falls nearly 12%, dragging down the Dow. Chinese concept stocks index drops more than 2%, CLOUD MUSIC falls over 16%, Tencent falls nearly 10%, Bilibili falls 5%; while NIO rises over 1%. Pan-European stock index rises for the sixth consecutive week, hitting the longest winning streak in a year. European gaming giant Ubisoft falls over 8% intraday, Prosus, a major shareholder of Tencent, falls 20% intraday. After the release of the PCE inflation index, the US dollar index hits a new five-month low; the two-year Treasury yield hits a daily low; the ten-year yield approaches a five-month low and then rebounds. UK CPI is released this week, and the two-year UK bond yield drops more than 20 basis points. Offshore renminbi falls below 7.16, hitting a new weekly low, and then falls after a temporary rebound of over 300 points. Crude oil falls from the monthly high for several consecutive days, but still rises for two consecutive weeks, achieving the largest weekly gain in two months. Gold rises for two consecutive weeks to a three-week high, rising over 1% intraday; London aluminum rises nearly 4% to a three-month high, while London copper falls from a three-week high, both rising for two consecutive weeks; London nickel falls nearly 4% in a week.