Group 1 - The core viewpoint of the article indicates that the recent market sell-off is just the beginning, with a significant focus on upcoming economic indicators and Federal Reserve signals [1][2] Group 2 - The U.S. Producer Price Index (PPI) for July saw a month-on-month increase from 0.00% to 0.9%, which annualizes to nearly 11%, a substantial figure that cannot be overlooked [2] - The market's expectation for a Federal Reserve interest rate cut in September has decreased from 100% to approximately 85%, indicating a shift in market sentiment and potentially leading to capital outflows [2] - The U.S. dollar index experienced a 1.4% drop on the day of the non-farm payroll data, but only a 0.4% increase on the day of the PPI release, suggesting that market participants are still in a wait-and-see mode [2] - The article emphasizes that the true market direction will likely be established within 48 hours following Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole conference, marking a critical turning point for market sentiment [2]

Group 1 - The core viewpoint of the article emphasizes that U.S. Treasury Secretary Mnuchin remains confident in Trump's tariff plans despite the recent market downturn, focusing on the impact on small businesses and consumers rather than Wall Street [1][3] - Mnuchin suggests that the market will experience a transitional period due to tariffs taking effect this month and next, but he believes the market sell-off is a temporary phenomenon [1] - The article highlights the escalation of the U.S.-Canada trade war, with Canada retaliating against U.S. tariffs by imposing counter-tariffs on $155 billion CAD worth of U.S. products and threatening to tax electricity exports to certain U.S. states [1][2] Group 2 - There is a noted shift in Trump's economic policy focus, moving away from emphasizing stock market performance to prioritizing the reduction of long-term bond yields [4] - This change raises questions about whether the stock market, previously a key performance indicator for the Trump administration, has seen its priority diminished amid increasing policy uncertainties [4]