1. Last Friday, the EU PMI fell beyond expectations. (Recession is coming for EU)
2. Political instability in Germany.
3. ECB interest rate cut decision by 50 bps.
4. Inflationary pressure in the US increased due to Trump's trade-off plan, so Jerome Powell and the Fed's decision about further interest rate cuts has been reduced.
5. US allows Ukraine to hit Russia using US weapons. (The US dollar is a risk-free currency; all other currencies, except the Swiss franc, are risk currencies)
The US economy is performing much better than the global economy.