QCP Capital: The market is focusing on tonight's non-farm unemployment report, and the market is expected to rebound in the short term

Planet Daily News: QCP Capital announced in its official channel that Trump declared a 10% tariff on all imported goods this Wednesday and implemented "reciprocal tariffs" on countries with significant trade deficits with the United States. The market reacted quickly. Bitcoin plummeted from its daily high of $88,500 to $81,200, giving up earlier gains and triggering massive liquidations in the cryptocurrency market. Over $221 million in long positions were forcibly closed, with Bitcoin experiencing a more severe impact compared to Ethereum. As expected, risk assets across the board followed suit. US stock index futures were hit first, with S&P 500 futures dropping 3.38% and Nasdaq 100 futures plunging 4.28%. The selling wave continued into yesterday's US stock trading session, with consumer stocks like American Eagle Outfitters plummeting 17.47%, reflecting investor concerns about Asian supply chain exposure. With key macro risk events unfolding, market focus shifts to tonight's non-farm payroll report. Investors are wary of potential signs of weakness in the US labor market. If data falls short of expectations, it could strengthen the Federal Reserve's rationale for further rate cuts this year—policymakers are attempting to buffer economic slowdown. As of writing, the market anticipates four rate cuts in 2025 (25 basis points each in June, July, September, and December). In the options market, trading desks observed persistently high short-term volatility, with a surge in downside protection demand. This bias highlights the current market sentiment: uncertainty and caution dominate. Nevertheless, with positions already lightened and risk assets generally oversold, the stage for a short-term rebound may be set.