PANews reported on February 12 that according to Jinshi, the annual inflation rate in the United States unexpectedly rose to 3% in January. Economists expected the inflation rate to stabilize at the level of 2.9% in December last year, which supported the Fed's reason for slowly advancing interest rate cuts and hit the stock market and Treasury bonds. The month-on-month increase in January also exceeded expectations, at 0.5%, higher than the expected 0.3%. After the data was released, Treasury bonds and stock futures were sold off sharply. The yield on the two-year U.S. Treasury bond, which is closely related to interest rate expectations, jumped to 4.37%. S&P 500 futures and Nasdaq futures both fell by more than 1%.