Is the Federal Reserve's June Rate Cut a Done Deal? [Plain Language Guide] Global markets were shocked by the excitement in the US stock market: Affected by the "reciprocal tariff" news, the stock market plummeted after tariffs were temporarily suspended, with the Dow Jones surging 7.87% in a single day, reaching a new high since 2020. The March CPI increase data unexpectedly dropped, with a year-on-year increase of only 2.4%, and the core CPI hitting a four-year low. The market expects the Federal Reserve's June rate cut to be almost certain, causing the US dollar index to fall and gold and the British pound to strengthen.