According to 4E monitoring, the global market fluctuated violently under the interweaving of Trump tariff uncertainty and Fed easing expectations. US stocks experienced a strong weekly rebound after a roller coaster market, and the major stock indexes achieved their best performance in more than a year last week. The S&P has risen by 5.7%, the best single-week performance since November 2023. The Dow Jones Industrial Average rose by 4.95% and the Nasdaq rose by 7.29%. The seven technology giants index rose by 8.95%, with Nvidia's performance particularly eye-catching, with a weekly increase of 17.62%. The crypto market fluctuated violently. Bitcoin was affected by the risk aversion sentiment caused by the tariff war. It plummeted at the beginning of the week to approach $74,000. Then, against the backdrop of Trump's suspension of reciprocal tariffs and the announcement of exemption lists, market sentiment rebounded, and Bitcoin gradually rebounded to a maximum of $86,000. The deadline was $84,408, an increase of nearly 7% in a week. Other altcoins have also seen a sharp rebound, but Ethereum's overall performance continues to be weak. Although the market rebounded last week due to loosening tariff policies, Trump’s latest statement denied “exemptions” of tariffs, and policy uncertainty remains a major risk. The U.S. inflation data (CPI and PPI) were lower than expected, and the minutes of the Federal Reserve's March meeting showed that inflation may be longer. This week, we need to pay close attention to Trump's tariff trends and Powell's speech.