According to 4E monitoring, due to weak economic data and the impact of Trump's tariff policy, the US stock market fluctuated downward last week, with the three major indices collectively falling, with the Dow Jones falling 2.37%; the S&P 500 fell about 3.1%, recording the worst weekly performance since September last year. The Nasdaq fell 3.41% for the third consecutive week, falling more than 10% from its recent high, entering a correction range. Large-tech stocks performed poorly, with Nvidia's market value shrinking by $1 trillion from its historical high, and Tesla retreating more than 46% from its historical peak.
The cryptocurrency market has seen a more severe decline. Trump's signed Bitcoin strategic reserve did not meet expectations, and the content of the White House cryptocurrency summit was mostly polite rhetoric, failing to bring any surprises to the market, leading to an intensified market decline. Bitcoin has repeatedly lost key support levels, with the lowest dip reaching the $80,000 mark, with a decline of nearly 12% in the past 7 days, closing at $82,150. Other mainstream cryptocurrencies such as Ethereum have seen even more severe declines, and the market sentiment has fallen into a trough.
Trump's tariff policy has been inconsistent, and last week's non-farm data did not provide a clear economic outlook, and the market is increasingly weary of uncertainty, with risk assets continuing to be under pressure. This week, investors will focus on US CPI and PPI inflation data, which will directly affect the Fed's interest rate decision on March 18-19.
