The daytime drop is likely due to two factors. One is Trump's tariff adjustments, which were already mentioned over the weekend. This will cause slight fluctuations in risk markets. What the market fears most is actually uncertainty, not a fixed tariff. Looking at it now, the cancellation of IEEPA is definitely a good thing. In the long run, Trump using tariffs as a regular weapon definitely won't work. The current series of combined tariffs has an upper limit. For example, the 15% cap under the Section 122 Act is the limit now. Back during the trade disputes with China, we saw rates like 30% and 40%, so things are much better now. But Trump will definitely try to make up for it, so there will be other tariff combinations that might impact certain industries. This is where the uncertainty lies. This kind of uncertainty leads to short-term fluctuations. Additionally, the geopolitical conflict between the U.S. and Iran will also impact the market. But these are likely part of the main narrative now. The key focus is still on liquidity and the Federal Reserve's monetary policy. @bitget VIP, lower fees, crazier perks