市场每周展望——美国个人消费支出、日本通胀和关税成为焦点。随着美国总统唐纳德·特朗普承诺未来将征收更多关税，市场又度过了一个有趣的一周。俄罗斯和乌克兰之间似乎正在达成一项潜在的和平协议，但这并没有削弱避险天堂的吸引力，因为黄金继续占据高位。

Markets Weekly Outlook – US PCE, Japanese Inflation & Tariffs in Focus.Markets had another interesting week as US President Donald Trump pledged more tariffs ahead. A potential peace deal appears to be gaining traction between Russia and Ukraine but this did little to dent the appeal of Safe havens as Gold continues to hold the high ground.

在纽约，道琼斯指数周五下跌776点，跌幅1.76%。联合健康（-7.44%）、英伟达（-3.88%）和美国运通（-2.95%）领跌。

In New York, the Dow Jones Index dropped 776 points or 1.76 percent on Friday. Losses were led by UnitedHealth (-7.44%), Nvidia (-3.88%) and American Express (-2.95%).

周五，美国股市暴跌，因为经济数据引发了人们对美国经济放缓和持续通胀的担忧，促使投资者寻求更安全的资产。标准普尔500指数下跌1.7%，纳斯达克100指数下跌2.1%，道琼斯指数暴跌748点，创下今年最大跌幅。联合健康股价暴跌7.2%，此前有报道称司法部正在调查其医疗保险计费做法，使其成为道琼斯指数中表现最差的成分股。消费者信心也受到打击，密歇根大学的指数降至64.7，反映出对通货膨胀的担忧日益加剧，消费者现在预计通货膨胀率在未来一年将上升至4.3%。此前，沃尔玛（-2.5%）的前景令人失望，人们对特朗普总统的关税政策的影响感到更广泛的担忧。本周，标准普尔500指数下跌1.6%，道琼斯指数和纳斯达克指数分别下跌2.5%和2.4%。

US stocks plunged on Friday as economic data raised concerns about a slowing US economy and persistent inflation, prompting investors to seek safer assets. The S&P 500 lost 1.7%, and the Nasdaq 100 slipped 2.1%, while the Dow Jones plunged 748 points, marking its biggest loss of the year. UnitedHealth shares plunged 7.2% following reports that the Department of Justice is investigating its Medicare billing practices, making it the worst-performing Dow component. Consumer sentiment also took a hit, with the University of Michigan’s index falling to 64.7, reflecting growing concerns over inflation, which consumers now expect to rise to 4.3% in the coming year. The slide followed Walmart's (-2.5%) disappointing outlook and broader fears about the impact of President Trump's tariff policies. On the week, the S&P 500 dropped by 1.6%, while the Dow and Nasdaq slipped 2.5% and 2.4%, respectively.

美国股市在下午延续抛售，疲软的经济数据和对通胀的担忧打压了投资者情绪。标准普尔500指数下跌1.7%，道琼斯指数暴跌800多点，纳斯达克100指数下跌2%。联合健康公司股价暴跌7%以上，此前有报道称司法部正在调查其医疗保险计费做法，使其成为道琼斯指数中表现最差的成分股。消费者信心也受到打击，密歇根大学的指数降至64.7，反映出对通货膨胀的担忧日益加剧，消费者现在预计通货膨胀率在未来一年将上升至4.3%。沃尔玛（-3%）警告称，由于关税的不确定性，价格可能上涨，这进一步打击了市场信心，导致周四市场整体低迷。虽然标准普尔500指数和纳斯达克指数仍有望周内上涨，但道琼斯指数正面临下跌，这表明经济不确定性加剧了波动性。

Stocks in the US extend sell-off in the afternoon session as weak economic data and concerns over inflation weighed on investor sentiment. The S&P 500 lost 1.7%, while the Dow Jones plunged over 800 points, and the Nasdaq 100 slipped 2%. UnitedHealth shares plunged more than 7% following reports that the Department of Justice is investigating its Medicare billing practices, making it the worst-performing Dow component. Consumer sentiment also took a hit, with the University of Michigan’s index falling to 64.7, reflecting growing concerns over inflation, which consumers now expect to rise to 4.3% in the coming year. Walmart’s (-3%) warning about potential price hikes due to tariff uncertainty further dampened market confidence, contributing to Thursday’s broader market downturn. While the S&P 500 and Nasdaq are still on track for weekly gains, the Dow is facing a loss, signaling increased volatility amid economic uncertainty.