NDXUSD

The NASDAQ index, one of the markets most affected by Trump's tariff policies, lost nearly 15% of its value in the last three trading days of the past week and entered a bear market. The total 104% tariffs imposed on China, in particular, directly affect the supply chains and profit margins of technology companies. China's statement of "we will fight to the end" and the difficulties in trade negotiations with the EU raise questions about the sustainability of the index's upward momentum. Most technology stocks, especially Nvidia and other semiconductor manufacturers, may recover strongly after the initial shock of the tariff crisis, but the long-term outlook will depend on the course of the trade war and whether recession concerns materialize. BlackRock downgraded its outlook on U.S. stocks from "overweight" to "neutral" due to the significant escalation in global trade tensions. The technical outlook for the index is negative.