Market Performance - The S&P 500 index decreased by 2.6% this week, while the Nasdaq fell by 2.5%[3] - Among sectors, only the Household & Personal Products sector saw an increase of 1%, while the Technology Hardware & Equipment sector dropped by 6.3%[3] Fund Flows - Estimated fund outflow from S&P 500 components was $11.115 billion this week, compared to an inflow of $25.71 billion last week[4] - Three sectors experienced fund inflows: Healthcare Equipment & Services (+$200 million), Media & Entertainment (+$170 million), and Household & Personal Products (not significant)[4] Earnings Forecast - The dynamic F12M EPS forecast for S&P 500 components was adjusted upward by 0.2% this week, following a 0.1% increase last week[5] - The Automotive & Auto Parts sector saw the largest upward revision of +0.7%, while the Food & Staples Retailing sector was revised down by -1.1%[5] Economic Risks - Key risks include uncertainties in economic fundamentals, international political situations, U.S. fiscal policy, and Federal Reserve monetary policy[5]

中新网5月25日电(甘甜)对哈佛大学下手、威胁对欧盟征收高额关税，同时向苹果"开炮"，这几天，美 国总统特朗普动作不断，也接连引发舆论争议，甚至让爱尔兰总理马丁直呼，其表态"令人极为失望"。 先是哈佛大学与美国政府的斗争骤然升级。 当地时间5月22日，美国政府宣布，取消哈佛大学获得的学生和交流学者项目资质，禁止该校招收国际 学生。 哈佛大学随即批评此举"非法"，并将美国政府告上了法庭。 尽管法官暂时叫停了"禁招令"，但许多学生仍难掩担忧。有学生形容称，哈佛校内"如今弥漫着一股沮 丧情绪"，"我不太确定未来的计划，只能静观其变"。 舆论争议持续发酵，国际学生们何去何从？美国政府会否让步？ 5月23日，特朗普在白宫被问及是否正考虑对其他美国高校采取同类措施，只是回答："我们正在考虑很 多事。哈佛必须改变它的方式，其他(高校)也需要改变。" 同美国高校的争斗还未结束，特朗普又将矛头对准欧盟和苹果。 当地时间23日一早，特朗普在社交媒体上连发两帖。 对于欧盟，特朗普放话，"建议自2025年6月1日起，对欧盟商品统一征收50%关税。若产品在美国本土 生产制造，则免征关税。" 对于苹果，特朗普批评称，他"很早之前就告诉过 ...

Core Viewpoint - The European Union (EU) is responding to President Trump's threat of imposing a 50% tariff on EU goods starting June 1, emphasizing the need for negotiation and a balanced power dynamic to avoid a trade war [1][2]. Group 1: EU's Response to Tariff Threat - Laurent Saint-Martin, the French Minister for Foreign Trade, stated that Trump's tariff threat is unhelpful for EU-US negotiations and warned that a 50% tariff would lead to retaliatory measures from the EU, which would be unsustainable for the US as well [1]. - Saint-Martin expressed hope for finding common interests between the EU and the US to lower tariffs instead of escalating into a trade war [1]. - He highlighted that the current situation is not caused by any European country and that trade wars are detrimental to all parties involved, including the US [1]. Group 2: Importance of Power Balance - Saint-Martin emphasized the necessity for the EU to demonstrate its strength and maintain a healthy power balance in negotiations, suggesting that the EU should prepare for proportional retaliatory measures against US products [1][2]. - He noted that the EU has advantages such as a market of 450 million consumers and a single market, which should be leveraged to defend its interests [2]. - The EU is currently suspending tariffs on a range of US products for 90 days while negotiations continue, indicating a willingness to engage in dialogue [1].

Core Viewpoint - The potential for a trade war between the US and EU has escalated following President Trump's threat to impose a 50% tariff on EU imports, leading to significant market concerns and stock market declines on both sides of the Atlantic [1] Group 1: US Actions and Statements - President Trump criticized the EU as "very difficult to deal with" and proposed increasing tariffs from the current 20% to an additional 30%, which would raise the total to 50% [1] - The US Treasury Secretary expressed hope that this would prompt action from the EU [1] - Trump previously implemented a strategy of imposing a 145% tariff on Chinese imports, indicating a pattern of aggressive trade measures [1] Group 2: EU Responses and Strategies - European officials are attempting to maintain a calm and united front, emphasizing the need for continued negotiations [2] - Dutch Prime Minister stated that the situation is part of negotiations and they will respond firmly [2] - Swedish Finance Minister described Trump's threats as an unreasonable escalation that could harm the US-EU economy, advocating for more free trade [2] - German Economic Minister warned of the negative consequences of such tariff disputes, stressing the need for a negotiated solution [2] Group 3: Potential Retaliation and Preparedness - Former US Treasury official indicated that the EU might consider retaliatory measures if Trump's threats are enacted [3] - The EU is prepared to impose tariffs on €21 billion worth of US goods in response to US metal tariffs, with implementation potentially expedited if negotiations fail [3] - A further list of €95 billion worth of US products is being prepared for tariffs, targeting items such as Boeing aircraft and American-made cars [3]

特朗普再度挥动关税大棒， 威胁对欧盟商品征收50%关税，此外，特朗普还点名苹果和三星，表示 对不在美国生产的手机制造商征收25%的关 税，并称 将在六月底前对苹果公司和三星征收关税。 此言论也在欧洲金融市场引发震荡，重要股指纷纷下挫。 关税担忧再起，周五美股也全线下挫， 截至收盘，道指跌0.61%，纳指跌1.00%，标普 500指数跌0.67%。 本周，道指累计跌2.47%，标普500指数跌2.61%，纳斯达克指数跌2.48%。 | A HS 港股 | 美股 全球 | 某余 | 期货 曲家 | | --- | --- | --- | --- | | 亚太市场收盘 | 欧洲市场收盘 | | 北美市场收盘 | | * 恒生指数 | 疆 英国富时 | | ■ 道琼斯 | | 23601.26 | 8718.27 | | 41603.07 | | +56.95 +0.24% | -20.99 -0.24% | | -256.02 -0.61% | | · 上证指数 | 德国DAX | | ■ 纳斯达克 | | 3348.37 | 23623.82 | | 18737.21 | | -31.82 -0.94% | -3 ...

Group 1 - The core viewpoint of the articles highlights the escalation of the trade war initiated by President Trump, proposing a 50% tariff on the EU starting June 1, which has reignited concerns about the impact of tariffs on the global economy and trade [1][2] - The US dollar index fell by 0.8% to 99.10, marking a three-week low, with a total weekly decline of 1.9%, the largest since mid-April [1] - The dollar's exchange rate against the Japanese yen dropped by 1% to 142.42, with a cumulative decline of 2.2% for the week, potentially the largest weekly drop since April 7 [1] Group 2 - Market sentiment is negatively affected by a loss of confidence in US policies, with countries reassessing their reliance on the US due to the ongoing trade war [2] - The correlation between the dollar and the stock market has broken down, with both declining simultaneously, indicating that the dollar has not served as a safe-haven asset this year [2] - Investors are increasingly focused on the US's $36 trillion debt and the potential increase in debt from Trump's tax plan, which has passed the House and is set for Senate debate [2]

道琼斯工业平均指数下跌256点，跌幅0.61%；标普500指数下跌0.67%；纳斯达克综合指数下跌1%。 在标普500的主要板块中，科技板块领跌，跌幅达1.33%，非必需消费品与通信服务板块也表现疲软。 相比之下，公用事业、日常消费品、能源和房地产板块则小幅上涨。 特朗普威胁对不在美国本土生产的苹果产品收取25％关税，并随后进一步表示，对手机产品征收的关税 将不仅限于苹果，三星等其他制造商也将被纳入其中。他说："这不仅仅是针对苹果，还包括三星和任 何制造该产品的企业，否则就不公平。" 他还补充说，如果企业选择在美国设厂，就不会面临关税。 在特朗普进一步澄清其言论后，市场略有反弹，收窄部分跌幅。 特朗普23日还威胁说，欧盟在贸易方面"很难打交道"，美欧之间的贸易磋商"毫无进展"。因此，他建议 自6月1日起对进口自欧盟的商品征收50%关税。 当日，市场情绪还受到财政前景不确定性的打压，投资者担心近期的财政政策措施（特朗普的税收法 案）可能在穆迪下调美国信用评级之后，进一步使美国赤字增加数万亿美元。 新华财经纽约5月23日电（刘亚南谢哲澍）由于美国总统特朗普最新的关税威胁引发投资者不安，美国 股市23日显著低开，盘 ...

特朗普当天下午在白宫被媒体问及总统是否有权对单个企业加征关税时说，关税不仅仅针对苹果公司，还 会包括三星和任何生产手机的公司，"否则这就不公平了"。特朗普还说，相关政策预计从6月底开始实 施。 这是5月23日在比利时布鲁塞尔拍摄的一家苹果门店。新华社记者赵丁喆摄 特朗普在社交媒体上说，他"很早之前就告诉过苹果公司的（首席执行官）蒂姆·库克，我希望他们在美国 销售的苹果手机是在美国生产和制造，而不是在印度或者其他什么地方"，"如果不是这样的话，苹果公司 必须向美国支付至少25%的关税"。 新华社消息，继欧盟和苹果公司之后，美国总统特朗普23日又向三星及全部手机企业发出关税威胁。特朗 普关税大棒再度来袭，欧洲金融市场震荡，重要股指纷纷下挫。有欧盟国家表示，有必要"展示报复措 施"，以便在接下来的谈判中建立真正的"力量平衡"。 5月23日，在比利时布鲁塞尔，一名男子从欧盟总部大楼外经过。新华社记者赵丁喆摄 全部手机品牌成目标 特朗普23日在白宫说，韩国三星电子公司和其他生产手机的企业也将面临关税。当天早些时候，他在社交 媒体上称，凡是在国外制造并在美国销售的苹果手机，应该面临至少25%的关税。 法国负责对外贸易的部 ...

Group 1 - Pre-market futures are down significantly as President Trump intensifies his trade war rhetoric, creating uncertainty for investors [1] - The Dow is down -560 points (-1.3%), S&P 500 down -90 points (-1.5%), Nasdaq down -400 points (-1.9%), and Russell 2000 down -45 points (-2.1%) [2] - Apple (AAPL) faces potential +25% tariffs on iPhones made overseas, contributing to a -3.5% drop in its stock, adding to a -19% loss year to date [3] - President Trump proposes a +50% tariff on imports from the European Union, which currently has a $160 billion trade surplus with the U.S. [4] Group 2 - New Home Sales for April are expected to decline to +695K from +724K in March, with the South seeing the most activity and the Northeast down -22% [6] - The average 30-year fixed mortgage rate in April was +6.88% [6]

以下文章来源于日经中文网 ，作者日经中文网 日经中文网 . 编制日经指数的《日本经济新闻》的中文版。提供日本、中国、欧美财经金融信息、商务、企业、高科技报道、评论和专栏。 "中国之所以强硬，是因为中国从第一次特朗普政府的贸易战以来，历经七年推进了相关准备，核心是推动经济结构转型，打造没有美国 也能生存的经济。2018年至今新增出口额超过1万亿美元，相当于中国每年对美出口额的两倍……" 文 丨桃井裕理 来源｜ 日经中文网（ID：rijingzhongwenwang） 封面来源 ｜ Unsplash 特朗普政府于美国东部时间14日凌晨0点1分（北京时间下午12点1分）将对中国的追加关税从145%下调了115%。对800美元以下 的小额货物征收120%的关税或每件100美元的关税，也一并降至54%。面对中国的反制，美国并未再反击，而是退让了。 美国对中国的追加关税目前是10%的基础对等关税税率，再加上之前以打击非法药品为名设定的20%，总共为30%。 特朗普于4月2日宣布对中国征收34%的对等关税，中国则采取了全面抗争的姿态而非谈判解决。美国将对等关税提高至84%、 125%，中国就以相同水平回应，最终美方对中方的 ...