The global financial market has plunged into turmoil, with the US stock market suffering a heavy blow, triggering a chain reaction. Yesterday, all three major US stock indices fell across the board, especially the Nasdaq index, which is heavily weighted in technology stocks, experiencing a decline of over 2.3%. More than 4,500 stocks on the market showed a downward trend, creating a bleak scene.

The source of this financial storm can be traced back to the new trade policy. The government recently signed an order regarding 'reciprocal tariffs', proposing to impose tariffs ranging from 10% to 41% on multiple countries. Although the implementation date has been postponed from August 1 to August 7, this policy still hangs over the market like the sword of Damocles, causing widespread concern.

What further worries the market is that there may be more separate tax measures on key commodities such as pharmaceuticals, chips, and minerals in the coming weeks. At the same time, the legality of the current 'reciprocal tariff' policy is also under dispute in the courts. These factors together create uncertainty in trade policy, becoming a major driver of market volatility.

In this round of stock market turbulence, technology giants have suffered significant losses. A well-known e-commerce giant's stock price once fell by 7%, with a market value evaporating by about 1.28 trillion RMB. A famous chip company's stock price dropped by more than 3%, with its market value shrinking by over 1 trillion RMB. Other technology giants, such as social media companies, electric vehicle manufacturers, and search engine companies, also generally saw their stock prices decline by more than 2%.

The financial storm has not only affected traditional markets, but the emerging cryptocurrency market is also hard to escape. When the global capital markets face challenges, cryptocurrencies, as a relatively young asset class, are inevitably impacted.

In such a complex financial environment, investors need to remain vigilant, closely monitor policy trends and market changes, and make informed investment decisions.