Under the global economic downturn, the US recovery is slow, and the economies of European countries are exhausted. The recent US consumption and employment data is good and bad, indicating the hesitation of the pace of economic recovery. Although the market is expected to have a strong QE3, the Fed still has no further moves. The deepening of the European debt crisis has dragged down the real economy. Eurostat statistics show that the unemployment rate in the euro zone climbed to 11.2% in June, the highest since 1995. France, Spain, and Italy were not as good as expected in June, and even Germany was showing signs of a slowdown. The continuous deepening of the European debt crisis and the continued sluggishness of the real economy have made the road to solving the European problem even more difficult, which will bring tremendous pressure on the global capital market.