隨著美國 - 中國緊張局勢升級，全球市場陷入動盪

在前一天的樂觀情緒中，全球市場再次陷入動盪，因為美國和中國之間的緊張局勢加劇了巨大的拋售

Global markets experienced a sharp sell-off on Thursday, extending the previous day's downturn as rising tensions between the United States and China pushed stocks, currencies, and commodities lower, continuing a turbulent few months in the markets.

全球市場週四經歷了急劇的拋售，隨著美國和中國之間的緊張局勢的加劇，股票，貨幣和商品降低，延長了前一天的下滑，在市場上持續了幾個月的動盪。

The threat of worsening economic conflicts sparked fears of deeper, more lasting damage to global growth and stability, a stark contrast to the optimism that had briefly emerged on Wednesday with a rally that some compared to the bullish momentum of 2008's stimulus-driven bounce.

惡化經濟衝突的威脅引發了人們對全球增長和穩定的更深層，更持久的損害的恐懼，這與週三短暫出現的樂觀形成了鮮明的對比，與2008年刺激驅動的反彈相比，這是一個集會。

But as optimism quickly fizzled out with the threat of further trade war escalation looming large, financial experts at QuilCapital are now weighing in on what this rapid market unraveling could mean for the months ahead.

但是，隨著進一步的貿易戰爭升級的威脅，樂觀情緒迅速消失，Quilcapital的財務專家現在正傾向於在未來幾個月內的快速市場揭開市場可能意味著什麼。

Here's a glance at the unfolding financial landscape:

這是一眼就展開的金融景觀：

Wall Street suffered a setback on Thursday as the trade war between the world’s two largest economies escalated further.

隨著世界上兩個最大經濟體之間的貿易戰進一步升級，華爾街在周四遭受了挫折。

The U.S. tariffs on Chinese goods now total 145%, with new measures introduced to counterbalance the retaliatory policies coming from Beijing. This abrupt shift in tone wiped out gains from what had been the largest stock-buying surge in five years, pivoting the mood from hope to uncertainty.

美國對中國商品的關稅總計145％，採取了新的措施來抵消北京的報復性政策。這種語調的這種突然轉變消除了五年來最大的股票購買激增的收益，從希望到不確定性的情緒轉移。

In response, the S&P 500 plummeted 6%, while the Nasdaq 100 dropped 6.8% and the Dow Jones Industrial Average lost 5.1%. Reflecting a broader retreat from risk, the MSCI World Index fell by 3%.

作為回應，標準普爾500指數下降了6％，而納斯達克100分率下降了6.8％，道瓊斯工業平均水平下降了5.1％。 MSCI世界指數反映了更廣泛的風險撤退，下降了3％。

Traders are increasingly focused on how this economic stalemate will influence future earnings, employment trends, and overall GDP growth. The message is stark: this is no longer a temporary disruption but a potentially structural threat to global financial equilibrium.

貿易商越來越關注這種經濟僵局將如何影響未來的收入，就業趨勢和總體GDP增長。信息是鮮明的：這不再是暫時的破壞，而是對全球金融均衡的潛在結構性威脅。

The White House’s decision to delay certain tariffs had sparked optimism on Wednesday, leading to a rally. However, investors quickly revised their expectations, recognizing that the postponement offered no resolution–only more delay. This thinking was largely sparked by the administration’s introduction of an additional 10% tariff on all remaining Chinese goods.

白宮決定推遲某些關稅的決定在周三引發了樂觀，導致集會。但是，投資者迅速修改了他們的期望，認識到推遲沒有提供任何解決方案 - 只有更多的延遲。政府對所有剩下的中國商品的額外關稅額外的關稅引起了很大的引起，這種想法在很大程度上引起了人們的注意。

The shift highlights the fragility of market sentiment in an era where geopolitical decisions rapidly alter financial trajectories. A 10% base tariff might have seemed manageable, but the looming threat of further escalation, especially within the 90-day window for trade talks, has rekindled fears of a prolonged trade war with serious consequences for corporate America and beyond.

在地緣政治決策迅速改變金融軌蹟的時代，這種轉變凸顯了市場情緒的脆弱性。 10％的基本關稅似乎是可以控制的，但是進一步升級的迫在眉睫的威脅，尤其是在90天的貿易談判窗口中，重新激發了人們對延長貿易戰的擔憂，對美國及其他地區及其他地區的嚴重後果。

Multinational corporations have begun tapping the brakes on spending, production, and hiring in response to the escalating trade tensions.

跨國公司已經開始利用剎車，以應對不斷升級的貿易緊張局勢來支出，生產和招聘。

As the uncertainty surrounding trade negotiations deepens, so does the likelihood that businesses will delay investment decisions, a move that can ripple across supply chains and labor markets.

隨著圍繞貿易談判的不確定性加深，企業延遲投資決策的可能性也加劇了，這種舉動可能會跨越供應鍊和勞動力市場。

While the current administration frames these tariffs as a tool to rebalance trade relationships and curb China’s retaliatory tactics, many industry strategists view the approach as destabilizing.

儘管當前的政府將這些關稅視為重新平衡貿易關係並遏制中國的報復策略的工具，但許多行業戰略家認為這種方法是不穩定的。

From a macroeconomic perspective, the continuation of aggressive tariff policies only exacerbates global anxiety and risks pulling down consumer sentiment along with business confidence.

從宏觀經濟的角度來看，侵略性關稅政策的延續只會加劇全球焦慮，並冒著企業信心降低消費者情緒的風險。

Periods of market stress usually trigger a flight to safety, benefiting government bonds. However, this time, longer-term Treasuries bucked expectations, with 30-year yields rising nine basis points to 4.8%.

市場壓力的時期通常會觸發航班飛往安全，從而使政府債券受益。但是，這次，長期的國庫震驚了預期，30年的收益率上升了9個基點，達到4.8％。

This unusual behavior suggests that investors may no longer trust bonds to perform their traditional stabilizing role in times of financial stress.

這種不尋常的行為表明，投資者可能不再信任債券來在財務壓力時期發揮其傳統的穩定作用。

Meanwhile, the dollar is approaching its lowest level since October, signaling that investors may be reassessing the strength of the U.S. economy in light of these developments. This retreat from U.S. assets highlights a broader sense of unease that now permeates both domestic and international investment communities.

同時，美元以來，美元正接近其最低水平，這表明投資者可能會根據這些發展來重新評估美國經濟的實力。美國資產的撤退突出了一種更廣泛的不安感，現在滲透到國內和國際投資社區。

March’s inflation numbers appeared to show cooling across key categories, but many analysts caution against overinterpretation. These figures were recorded before the most recent round of tariffs, and the expectation is that inflationary pressures will re-emerge once these new levies begin filtering through the economy.

3月的通貨膨脹數字似乎顯示出跨關鍵類別的冷卻，但許多分析師警告不要過度詮釋。這些數字是在最近的一輪關稅之前記錄的，期望這些新的徵費開始通過經濟過濾，將重新出現通貨膨脹壓力。

While a modest drop in prices for services like hotel stays and airfare might seem positive at first glance, they could also indicate declining consumer demand, a potential warning sign of economic slowdown. As one financial strategist put it, “Lower inflation caused by shrinking economic activity is not the solution markets are looking for.”

雖然乍一看，諸如酒店住宿和機票之類的服務價格的價格適中，但它們也可能表明消費者需求下降，這是經濟放緩的潛在警告信號。正如一位財務策略師所說，“由於經濟活動縮小而導致的通貨膨脹率降低並不是解決方案市場正在尋找的。”

Amid all this volatility, the U.S. Federal Reserve remains hesitant to alter its course. Several central bank officials have voiced concerns that tariff-related inflation could become more entrenched, despite initial assumptions that it would be short-lived.

在所有這些波動性中，美國美聯儲仍然猶豫不決。幾位中央銀行官員表示擔心與關稅相關的通貨膨脹可能會更加根深蒂固，儘管最初的假設是短暫的。

The President of the Federal Reserve Bank of Kansas City remarked on his reluctance to view the current inflation spike as a passing issue, while the Dallas Fed President emphasized the importance of ensuring that these cost pressures do not become baked into the economy. For now, the Fed seems content to maintain interest rates and monitor evolving conditions, even as market volatility puts pressure on policymakers to respond.

堪薩斯城聯邦儲備銀行的總裁指出，他不願將當前的通貨膨脹率視為一個過往的問題，而達拉斯美聯儲主席則強調了確保這些成本壓力不會融入經濟的重要性。目前，美聯儲似乎很滿足於維持利率並監測不斷發展的條件，即使市場波動構成對決策者做出反應的壓力。

In this era of heightened financial tension, investors are navigating an increasingly complex and uncertain environment. The shifting nature of global trade, coupled with

在這個加劇的財務緊張時代，投資者正在駕駛日益複雜和不確定的環境。全球貿易的變化性質，再加上