美國總統唐納德·特朗普的關稅計劃延長了美國股市的持續波動

這些發展對投資者的信心造成了損失，這反映在道瓊斯指數中，昨天昨天下跌了近500分，在過去兩天中得到了1,400分。

US President Donald Trump’s tariff plans and refusal to rule out an economic downturn prolonged the ongoing volatility in US stock markets on Monday.

美國總統唐納德·特朗普（Donald Trump）的關稅計劃並拒絕排除經濟低迷，這延長了美國股市持續的波動。

These developments took a toll on investor confidence, reflected in the Dow Jones index, which slid by almost 500 points yesterday or 1,400 points in the past two days. Meanwhile, the S&P 500 has declined by 3.62% in the past week to 5,572. At one point, the benchmark index was down 10% from its peak. Furthermore, the Nasdaq Composite tanked by 4% on Monday, marking the worst day since September 2022.

這些發展對投資者的信心造成了損失，這反映在道瓊斯指數中，昨天昨天下跌了近500分，在過去兩天中得到了1,400分。同時，在過去一周中，標準普爾500指數下降了3.62％，至5,572。在某一時刻，基準指數比其峰值下降了10％。此外，納斯達克復合材料在周一跌幅4％，標誌著自2022年9月以來最糟糕的一天。

Investors are concerned about dynamic trade policies, elevated inflation, and uncertainty over the US Federal Reserve’s plans for interest-rate easing.

投資者擔心美國美聯儲（Federal Reserve）享受利率的計劃的動態貿易政策，通貨膨脹率提高以及不確定性。

‘What Trump has been doing has not been helpful for US equity markets,’ said Neil Dutta of Renaissance Macro Research. ‘For now, I don't see a recession. We've never really had a recession from policy uncertainty itself. And, we don't yet know how markets would respond if Trump's escalation now results in de-escalation later.’

文藝復興時期宏觀研究的尼爾·杜塔（Neil Dutta）表示：“特朗普所做的事情對美國股票市場並不有幫助。” “就目前，我看不到經濟衰退。我們從來沒有真正遇到過政策不確定性的經濟衰退。而且，如果特朗普的升級現在稍後導致升級，我們還不知道市場會如何回應。”

Market participants are also waiting for the February US inflation report today. Bloomberg estimated that the consumer price index (CPI), excluding food and energy, would rise 0.3% for February, keeping annual price growth elevated.

市場參與者還在等待今天2月的美國通貨膨脹報告。彭博社估計，不包括食品和能源的消費者價格指數（CPI）將在2月上漲0.3％，使年度價格增長升高。

‘There's just an enormous amount of uncertainty around the economy right now as we watch the early days of the new administration play out,’ said Matt Schulz, chief credit analyst at LendingTree. ‘People don't have any idea what things will look like in three to six months, and that's really unnerving.’

Lendingtree首席信用分析師Matt Schulz表示：“當我們觀看新政府的早期發揮作用時，目前，經濟上只有很大的不確定性。” “人們不知道三到六個月內會是什麼樣，這確實令人不安。”

Avoid Panic Selling

避免恐慌出售

Many investors sell their assets during a market crash, making irreversible emotional trades that impact their long-term financial goals. However, Bone Fide Wealth president and CFP Douglas Boneparth said that long-term investors should know that ‘volatility is part of the game,’ adding that investors are ‘seeing the market more or less whiplash’ based on what Trump says every other day.

許多投資者在市場崩潰中出售其資產，從而使不可逆轉的情感交易影響了他們的長期財務目標。但是，Bone Fide財富總裁兼CFP Douglas BoneParth表示，長期投資者應該知道“波動是遊戲的一部分”，並補充說，根據特朗普每隔一天的話，投資者正在“或多或少地看到市場”。

He urged investors to focus on what they can control, such as reassessing portfolio allocations, revisiting investing strategies, controlling impulsive feelings, and concentrating on improving their ability to stay the course.

他敦促投資者專注於他們可以控制的內容，例如重新評估投資組合分配，重新審視投資策略，控制衝動的感覺，並專注於提高他們的課程能力。

Meanwhile, Oaktree Financial Advisors co-founder Ed Snyder asked investors to avoid letting their ‘emotions wreck’ their investments. He explained that advisers develop portfolios by leveraging years of experience and intuition while keeping in mind the client’s risk tolerance and life goals. Snyder added that if one’s investment goals haven’t changed, there is no need to react to stock market fluctuations.

同時，Oaktree Financial Advisors聯合創始人Ed Snyder要求投資者避免讓他們的“情緒破壞”他們的投資。他解釋說，顧問通過利用多年的經驗和直覺來發展投資組合，同時牢記客戶的風險承受能力和生活目標。 Snyder補充說，如果一個人的投資目標沒有改變，則無需對股票市場波動做出反應。

Maintain A Cash Reserve

維持現金儲備

Boneparth suggested that investors should try to maintain cash reserves for six to nine months of living expenses in case of emergencies or any surprise market opportunities that may arise after an economic upheaval. ‘Nothing helps navigate rough markets like having a healthy margin of safety,’ he said.

BoneParth建議，如果在緊急情況下或經濟動蕩之後可能出現的任何驚喜市場機會，投資者應試圖維持六到九個月的生活費用的現金儲備。他說：“沒有什麼可以幫助艱難的市場，例如擁有健康的安全餘地。”

The adviser added that the ‘silver lining’ to stock market dips is that investors could find ‘quality companies or indices at discounted prices’ and use part of the cash reserves to invest.

顧問補充說，股票市場上的“白銀一路”下降是，投資者可以找到“以折扣價的質量公司或指數”，並利用一部分現金儲備進行投資。