From late night to early morning on the 4th, a series of new reports on the Middle East situation intensified pressure on market sentiment. 🇮🇷 Iran has maintained a hardline stance on nuclear negotiations and claimed to have attacked U.S. vessels in the Gulf of Oman. 🇺🇸 Meanwhile, President Trump made remarks hours later aimed at calming markets, but these had little effect on improving investor sentiment. 📈 Furthermore, the Fed’s Beige Book indicated that inflationary pressures have risen due to the Middle East conflict, and several Fed officials have continued to adopt a cautious stance on inflation and interest rates. ➡️ These factors have supported a stronger U.S. dollar and weighed on overall market sentiment. Markets are gradually losing faith in Trump’s statements themselves and may be approaching a phase where they react only to Iran’s actual actions.