US Stock Movement: First Majestic Plunged on October 30 — Silver Price Crash, Rate Hike Expectations, and Sharp Nasdaq Drop

First Majestic October 30th Sharp Decline Analysis

Keywords: Silver price collapse, interest rate hike expectations, Nasdaq plunge

1. On October 30th, the silver shortage crisis subsided, with inventories, speculative capital, and industrial demand weakening simultaneously. Silver prices plummeted to a new low for the year, and as a silver producer, First Majestic's share price came under pressure alongside silver and the precious metals sector.

2. On October 30th, the Federal Reserve kept interest rates unchanged at its October meeting. Waller's speech suggested further rate hikes ahead. The futures market is pricing in one rate hike each in December and next March, and expectations of a stronger US dollar and Treasury yields are weighing on precious metal prices.

3. On October 30th, after the US stock market opened, the Nasdaq index fell by 2.4% to a nearly three-month low. A broad decline in risk assets dragged down the silver mining sector.

(Disclaimer: This content is generated by AI technology based on publicly available information and is for reference only. It does not constitute investment advice.)