Today's panic index is 65, still in a state of greed.

Trump has started to impose tariffs again, and Bitcoin has followed, dropping below $108,000.

The tariff and trade situation is heating up again, directly affecting the risk asset market. Everyone has experienced the turmoil during the tense period of China-U.S. tariffs. If tariff measures targeting BRICS countries further rupture China-U.S. trade relations, the market may see significant adjustments in the short term. Tariffs will lead to rising inflation in the U.S. and targeted countries, slow GDP growth, and may also affect the interest rate cut timetable, which will further impact market trends. This week, the market will follow tariff news.