Group 1 - Trump's comments indicate that the U.S. is already in a trade war, with a suggestion that tariffs are necessary to avoid vulnerability [2] - Treasury Secretary Mnuchin's statement implies that negotiations will only occur if beneficial to the U.S. economy, not due to stock market fluctuations [2] - The S&P 500 has been fluctuating within the same range for three consecutive days, indicating market caution and a wait-and-see approach [2] Group 2 - Gold prices have surpassed $4200, reaching a historical high, signaling a shift towards global defensive strategies amid a "no-trust trading period" [3] - Increased volatility in the stock market contrasts with decreased volatility in the bond market, suggesting a build-up of fear without an expansion of risk [4] - Negative news is being quickly priced into the market, leading to short-lived rebounds and diminishing market patience [4]