On April 14th, monitoring, the global market experienced intense volatility as a result of the uncertainty of Trump's tariffs and the expectation of Fed easing. After a roller coaster market, US stocks rebounded strongly on a weekly basis, with the three major indexes posting their best performance in over a year last week. The S&P rose by 5.7%, marking its best single-week performance since November 2023, the Dow Jones rose by 4.95%, and the Nasdaq rose by 7.29%. The index of the seven tech giants rose by 8.95% overall, with Nvidia's performance particularly eye-catching, posting a weekly gain of 17.62%.

The cryptocurrency market experienced intense fluctuations, with Bitcoin initially dropping close to $74,000 at the beginning of the week due to the risk-aversion sentiment triggered by the tariff war. However, with Trump postponing equivalent tariffs and announcing exemption lists, market sentiment improved and Bitcoin gradually rebounded, reaching a high of over $86,000. At the time of writing, it was at $84,408, with a weekly increase of nearly 7%. Other altcoins also saw significant rebounds, but Ethereum's overall performance remained relatively weak.

Despite the rebound in the market last week due to tariff policy relaxation, Trump's latest statement denying tariff "exemptions" indicates that policy uncertainty remains a major risk. US inflation data (CPI and PPI) came in lower than expected, and the minutes of the Fed's March meeting indicated that inflation may be more persistent. This week, close attention should be paid to Trump's tariff dynamics and Powell's speeches.