according to The Kobeissi Letter analysis, the latest survey from the University of Michigan shows that American consumers' pessimism towards the stock market has reached a record high. A record 12% of Americans believe that there is no possibility of the stock market rising in the next 12 months, a proportion that has tripled in the past two months, surpassing the peak levels of 2002, 2009, and 2012 market bottoms.

At the same time, 44.5% of consumers expect the stock market to decline in the next year, reaching the highest level since 2012 and the second-highest level in 14 years. Market sentiment is unusually extremely pessimistic.

Analysts point out that the sharp decline in consumer confidence is related to multiple factors such as concerns about economic recession, inflation pressure, and unstable trade relations. This pessimistic sentiment may lead to investors withdrawing from the stock market, weakening market liquidity, funds shifting to defensive sectors or holding cash, further exacerbating market volatility.