Trump is now pretending to be confused. Today, both US stocks and cryptocurrency represented by bitcoin: native are falling, while the yield of US bonds is rising from short term to long term, which means that investors' expectations for the Fed's interest rate cut are very low. Previously, US stocks had been ignoring the US macro politics and believed that AI could drive the stock market to rise indefinitely. Even this decline may still increase the bottom hunting attitude of American stock investors. After all, AI's narrative still does not see the time when the foam bursts. Even if it falls, it is also because investors' expectations that American inflation may be uncontrollable, and the main source of this concern is the Strait of Hormuz. Trump failed to get hold of Hormuz for a day, and the oil price could not fall, so investors' worries will increase. Of course, it is normal for IPOs like SpaceX to suck blood. Countless people are now competing for SpaceX's IPO quota, and the market's expectations for SpaceX are very good. These themselves are catalysts, but the main factor that actually puts the market in a passive position is the expectation of rising inflation, forcing many investors to give up long-term holding targets and turn to short-term speculation.