In the last 24 hours, there has been a sense of panic, and even early investors have shown signs of reducing their holdings. Although the reduction is not significant, it is indeed occurring. Additionally, short-term investors, especially those facing short-term losses, are also exiting on a large scale. This emotional adjustment may not be resolved in just one day. On Friday, there is still the core PCE data, but the significance of this data has diminished. Powell anticipated the rise in inflation during his speech, and the recent inflation data has impacted whether there will be a rate cut in January, which has almost been priced in. There will not be a rate cut in January, so the core PCE for December is essentially not important. It depends on how the market chooses to interpret it. In reality, I don't think it will have a significant negative impact on the market. Even after calming down, the effect of this data should be erased. The upcoming Michigan University data is similar, but whether the core PCE will lead to negative sentiment regarding the Fed pausing rate hikes is really hard to determine. Even when it just dipped below $97,000, I was wondering if it was risk aversion, but I felt it was unnecessary; there is no risk left to avoid.