The reason for today's daytime decline is possibly related to the A-shares, which have already suffered a severe drop. It is the largest decline since the tariff adjustments, especially due to tariff adjustments from other countries. For example, Vietnam has imposed a temporary anti-dumping duty of up to 37.13% on certain galvanized steel products originating from China, effective for 120 days starting from April 16.

Additionally, South Korea has begun considering reducing tariffs on the United States, Samsung is preparing to build a factory in the U.S., and Japanese Prime Minister Kishida also discussed plans to increase job opportunities in the U.S. at a press conference today. Clearly, the previous tariff alliance among China, South Korea, and Japan no longer exists, and China is likely the only country in Asia that is firmly resisting tariffs.

With the tariff policies, stock markets around the world are experiencing declines. Yesterday, the probability of an economic recession in the U.S. exceeded 65%, and a large number of investors are beginning to choose safe havens.

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