美国关税风波下资金“撤离”美元资产，避险交易升温

Group 1 - The recent trade tensions in the U.S. have caused significant volatility in global capital markets, leading to a withdrawal of overseas institutional funds from dollar assets and a rise in demand for safe-haven assets [1][2] - As of October 13, the U.S. dollar index has seen a cumulative decline of 8.57% since the beginning of the year, while gold has surged over 52% year-to-date, breaking the $4,000 per ounce mark on October 8 and reaching a new high of over $4,060 [2][4] - The S&P 500 index has increased nearly 20% since the beginning of the year, but is now facing profit-taking pressures, particularly in the technology sector, with significant losses in major stocks like Nvidia, Tesla, and Amazon [3][4] Group 2 - European markets have mirrored the declines seen in U.S. markets, with the STOXX 600 index dropping 1.10% over the week, and there is limited capital inflow into Europe as a replacement destination [4][6] - Investment strategies suggest a focus on defensive growth stocks in the U.S. and China, with recommendations to gradually increase holdings in these markets as they approach key support levels [5][6] - Analysts expect that the current trade tensions will have a milder impact on various asset classes compared to previous events, with a likelihood of continued support for the Chinese stock market due to policy expectations and the potential for increased capital inflow [7]