According to ChainCatcher, citing Jinshi, Matt Weller, Global Market Research Head at StoneX, emphasized in his latest report that Wall Street's ancient adage of market aversion to uncertainty has undoubtedly severely impacted risk appetite. The ambiguity of tariff declarations has damaged risk appetite, and once the situation becomes clear, risk assets and the US dollar may see a brief rebound. However, he warned that if Trump continues to escalate tariffs after April 2, any risk asset rebound will be short-lived, unless traders are confident that these economically disruptive policies have been completely terminated.

Jed Ellerbroek, portfolio manager at Argent Capital, observed that the uncertainty of these tariff policies is driving funds into low-volatility and value stocks, and the weak performance of tech giants in recent weeks confirms the market's defensive attitude. He believes that to reverse this risk-averse sentiment, improved visibility of tariff policies is a necessary prerequisite.