今夜避险，鲍威尔是个灾难！

Core Viewpoint - The U.S. stock market faced downward pressure due to weak economic data and updates on tariff policies from President Trump, leading to significant declines in major indices [1][9]. Economic Data Summary - The July employment report revealed only 73,000 new non-farm jobs, significantly below the expected 100,000, with prior months' data also revised downwards [9]. - The ISM Manufacturing Purchasing Managers' Index (PMI) for July recorded at 48, indicating continued contraction in manufacturing activity, with the employment index dropping to 43.8, below market expectations [10][11]. - The price index decreased to 64.8, suggesting a reduction in cost pressures faced by businesses [12]. Market Reactions - The Dow Jones Industrial Average fell over 520 points, a decline of 1.2%, while the S&P 500 and Nasdaq Composite dropped by 1.3% and over 1.6%, respectively [1]. - The dollar index decreased by 1.2% to 98.84, and the 10-year U.S. Treasury yield fell by 13 basis points [3]. - Bank stocks were heavily impacted, with JPMorgan Chase down approximately 4%, and both Bank of America and Wells Fargo declining over 3% [12]. Tariff Policy Impact - New tariffs announced by the Trump administration, ranging from 10% to 41%, have raised concerns about the North American Free Trade Agreement, particularly with a significant increase in tariffs on Canadian goods from 25% to 35% [9][12]. Sector-Specific Developments - In the technology sector, Amazon's stock plummeted over 7% due to lower-than-expected quarterly operating profit guidance, while Apple saw a 2% increase following better-than-expected earnings [13].