The S&P 500 experienced its worst week in three months, primarily driven by the implementation of 25% tariffs on imports from Canada and Mexico, alongside rising global bond yields, particularly in Germany and Japan. The market showed notable declines, with the S&P 500 index down significantly over the week. Additionally, the 10-year yield fell, and the U.S. dollar weakened against the euro. Technical indicators suggest a weakening market momentum, with prices dropping below key moving averages, including a brief dip below the 200-day moving average. The current market environment is characterized by high volatility, as indicated by the negative gamma territory. In contrast, gold and silver have continued to outperform amidst the market turmoil.