Global markets faced five major hurdles this week! Is Black Friday really coming? From Monday to Friday, global markets faced a test almost daily. The AI bubble, US inflation, Fed rate hike expectations, and Chinese consumption—all the most sensitive nerves were touched. Monday (November 9): China's October CPI and PPI were released. September's CPI rose only 0.9%, while PPI rose 5%. If industrial costs continue to rise while consumer prices remain stagnant, corporate profits may be further squeezed. Monday (November 9): Taiwan's October export data was released. September exports surged 60.9% year-on-year. This will test whether demand for AI chips and servers can continue its explosive growth. If growth slows significantly, Wall Street's concerns about AI capital expenditure may intensify again. Tuesday (November 10, 21:30): The US October CPI was released—this was the first major bombshell of the week! If inflation exceeds expectations, expectations for a December rate hike by the Federal Reserve may intensify further, potentially putting pressure on US tech stocks, Bitcoin, and other risk assets. Thursday (November 12, 15:00): UK Q3 GDP released. Whether European economic growth can withstand the pressure of high interest rates and energy costs will be tested again. Friday (November 13, 21:30): US October PPI released. The biggest suspense of Black Friday lies here! If Tuesday's CPI already exceeded expectations, and Friday's PPI continues to spike, the market will likely have to reassess the upside risks to inflation and interest rates. The most dangerous combination this week is a renewed acceleration in US inflation coupled with signs of cooling demand for AI hardware. The former will hit valuations, while the latter will shake growth expectations, potentially putting tech stocks under double pressure. If the data from Tuesday to Friday is consistently disappointing, Friday may be the time for the market to settle accounts.