4E: Trump's tariffs are imminent, the market is waiting for them, and risk aversion is heating up

On April 1st, according to 4E monitoring, Trump's reciprocal tariffs are imminent, and US stocks opened lower due to the warming of risk aversion in early trading. However, Chicago PMI data exceeded expectations to boost risk sentiment. Coupled with the end-of-the-quarter rebalancing trade, US stocks converged and fell during the session, and the main indices were mixed in the end. The S & P 500 closed up 0.55%, fell 5.75% in March, and fell 4.59% in the first quarter; the Dow closed up 1.00%, the monthly black 4.20%, and fell 1.28% in the first quarter; the Nasdaq index fell slightly by 0.14%, fell 8.21% in March, and fell 10.42% in the first quarter. Technology stocks were generally sluggish. The "Seven Sisters of Technology" index fell 14.83% in the first quarter, Tesla led the decline of 35.83%, and Nvidia followed suit with a decline of 19.29%.
The crypto market fluctuated in a narrow range. Bitcoin rallied to $84,000 under the boost of US stocks. US stocks fell back after the close. At the time of writing, it was $82,781. It rose 1.18% in 24 hours. After recording an 18% decline in February, it ended with a 3.5% decline again in March. Ethereum returned to above $1,800. After falling 32% in February, it fell another 18% in March. The price performance of the currency was a big disappointment, and the market sentiment was very negative.
The world's major assets are subject to the impact of Trump's tariffs, and their erratic attitude has exacerbated market uncertainty about future expectations. The tariff liberation day is approaching, and the market is feeling uneasy, which may further amplify market volatility.