According to 4E monitoring, Trump's reciprocal tariffs are imminent, and US stocks opened lower due to the rising risk aversion sentiment in the early trading. However, Chicago's PMI data exceeded expectations to boost risk sentiment. Coupled with the rebalancing of trading at the end of the quarter, the US stocks converged in the intraday decline, and the main indexes rose and fell in the end. The S&P 500 closed up 0.55%, down 5.75% in March, and fell 4.59% in the first quarter; the Dow Jones Industrial Average closed up 1.00%, the monthly line closed black 4.20%, and the cumulative decline in the first quarter; the Nasdaq fell slightly by 0.14%, fell 8.21% in March, and fell 10.42% in the first quarter. Technology stocks were generally sluggish, with the "Technology Seven Sisters" index falling 14.83% in the first quarter, with Tesla leading the decline of 35.83%, and Nvidia following behind with a decline of 19.29%. The crypto market fluctuated narrowly, with Bitcoin rebounding at $84,000 under the boost of US stocks. The U.S. stock market fell after closing, with a deadline of $82,781, up 1.18% in 24 hours. After recording an 18% decline in February, it closed again with a 3.5% decline in March. Ethereum returned to above $1,800, and fell by 18% in March after falling 32% in February. The currency price performance was disappointing and the market sentiment was very negative. The global major assets are subject to the influence of Trump's tariffs, and their erratic attitude has exacerbated the uncertainty of market expectations for the future. The market feels uneasy as the tariff liberation day is approaching, which may further amplify market fluctuations.