Ed Yardeni, president of Yardeni Research Inc., who is known as a Wall Street prophet and a famous bull, has recently had a subtle change in his view on the US stock market. This once staunch bull who predicted the S&P 500 index would reach 7,000 points now says, "We cannot rule out the possibility that a bear market may have quietly begun." He further pointed out, "Trump's tariff 2.0 could trigger rare lightning crashes similar to those in 1962 and 1987. These crashes usually come quickly and the reversal is just as fast, so this may provide investors with buying opportunities on dips, especially for stocks that are overvalued but have recently fallen." It is worth noting that Yardeni has raised the possibility of a US economic recession and the stock market entering a bear market from the previous 20% to 35%, and has lowered the probability of the bull market continuing until 2025 from the previous 80% to 65%.