According to CoinMeta, geopolitical tensions have escalated once again, leading to a slight decline in Asian stock markets at the opening on Friday, which in turn dragged down both the U.S. stock and bond markets. Oil prices soared, reigniting concerns about inflation before the release of key U.S. employment data. Market attention is now focused on Friday's U.S. employment report in search of new clues regarding the Federal Reserve's policy path. UBS analyst Ulrike Hoffmann stated, "Short-term risks still exist, especially if U.S. data remains strong, oil prices continue to trigger inflation concerns, or if the market continues to price in a more hawkish Fed interest rate path." Senior economist Jos Torres said, "Wall Street has reversed from its recent sharp gains again, as there is a lack of clarity regarding the Strait of Hormuz, and investors question whether the strong rebound at the beginning of this week was justified."