Wind万得·2025-04-05 23:04Global Market Performance - Global stock markets experienced significant declines over the past week, with all 19 major indices falling, particularly the Italian FTSE MIB and Nasdaq, which dropped over 10% [3] - The S&P 500, Nikkei 225, German DAX, and French CAC40 also saw declines exceeding 5%, while China's A-share Shanghai Composite Index was the most resilient, only slightly down by 0.28% [3] Technology Sector Impact - Major technology companies, including Nvidia, Apple, Amazon, and Facebook, faced substantial losses, each dropping over 10% in the past week, with Apple hitting a nearly one-year low and others reaching six-month lows [6] Commodity Market Trends - The commodity market experienced volatility, particularly in metals and energy, with COMEX silver and copper plunging over 14%. NYMEX crude oil and ICE Brent oil fell by 10.15% and 9.21%, respectively, while gold remained relatively stable with a decline of less than 2% [9] Tariff Policy Analysis - Analysts suggest that the "reciprocal tariffs" may signal the beginning of a new wave of market turmoil rather than a resolution, emphasizing that the focus should be on negotiation rather than the direct economic impact of tariffs [11] - China's position in the tariff negotiations is strengthening due to its industrial upgrades and international expansion, allowing it to focus on its economic development without being overly influenced by U.S. tariff policies [11] Economic Outlook and Ratings Adjustments - UBS Global Wealth Management downgraded its rating on U.S. stocks from "attractive" to "neutral," significantly lowering the S&P 500 year-end target from 6400 to 5800 points due to profit forecast and valuation risks [12] - Other investment banks, including Barclays and Deutsche Bank, warned that continued implementation of tariffs could increase the risk of a recession in the U.S. economy this year [12]