Chris Weston, research director at Pepperstone, said that US President Trump's tariffs represent the toughest possible approach among all possible scenarios. He said that severe tariffs are unlikely to be reduced quickly. Investors may be more cautious about the stock market, and tariffs have intensified currency and cross-asset volatility. However, Weston added that the basic situation is that this will not trigger comprehensive safe-haven behavior or cause the S&P 500 index to fall by 10%.