According to Golden Finance, 2024 is about to pass. Looking back on the past year, against the background of the continued AI craze, the Fed's shift to easing, and the coming of "Trump 2.0", the three major U.S. stock indexes will continue to set new historical records in 2024. The S&P 500 Index has closed at record highs nearly 60 times during the year. The Nasdaq broke through 20,000 points for the first time in history, and the Dow Jones Industrial Average reached 45,000 points for the first time. But there is no shortage of warnings from the market. Bank of America believes that the biggest risk in 2025 will be the technology bubble. In an interview with reporters, Dr. David Seif, chief economist of developed markets at Nomura, reminded that tariffs and geopolitical shocks are the two biggest potential risks, among which tariffs are most likely to interrupt the U.S. bull market.