On Friday, U.S. stocks plunged, with the Nasdaq 100 giving up most of its gains since the U.S. election. Analysts pointed out that the latest U.S. retail sales data may indicate a solid holiday shopping season. In addition, the New York Fed manufacturing index far exceeded expectations and October data. Combined with the higher-than-expected CPI and PPI inflation data earlier this week, the Fed is expected to remain cautious when further cutting interest rates. After the U.S. market opened, U.S. stocks fell further and suffered a massive sell-off. U.S. Treasury bonds reversed their trend. Due to the rise in risk aversion, U.S. bonds were sought after by buyers. The yen, which had been falling recently, rose 1.5%. Major assets reflected a clear reversal of Trump's trade.