On Saturday, tens of thousands of people in Europe and America launched protests directly targeting Trump and Musk.

The Trump administration's aggressive tariff policy has resulted in a global stock market loss of $6.6 trillion, and investors' 401k accounts have been severely affected. People in more than 1,000 cities around the world have held "Hands Off!" protest activities, demanding protection of the social safety net and economic stability. There is a growing sentiment of resistance against Tesla and Musk, which may impact related investments. On Saturday, tens of thousands of protesters took to the streets in cities across the US and globally to protest against various policies of the Trump administration. Protesters criticized a range of government policies, including aggressive trade tariffs, federal employee layoffs, deportation of legal immigrants, attacks on the transgender community, the threat of invading Greenland, and Musk's Department of Government Efficiency. The protests coincided with Trump's announcement of a comprehensive 10% tariff officially taking effect, leading to a two-day sell-off on Wall Street and a loss of $6.6 trillion in stock market value. Despite significant market turmoil, Trump urged Americans on Saturday through social media to be patient during what he called an "economic revolution," promising that "it's not easy, but the eventual result will be historic." "Hands Off!" Movement: Participating in over 1,000 cities across the US The protests organized by the "Hands Off" movement covered over 1,000 cities and towns in the US, with support from various advocacy organizations on issues ranging from abortion rights to climate change. The largest gathering was in Washington's National Mall, where protesters held various signs, including "Penguins Against Tariffs," "Send Musk to Mars," and "Make my 401k great again." Protester Peter from Annapolis, who requested not to disclose his last name, stated that he attended the rally to respond to what he saw as attacks on democracy by Trump and Musk. Washington resident Maya said she was protesting "billionaire oligarchy politics," adding that "tariffs harm the working class." Musk becomes a focus of protest: DOGE department raises legitimacy concerns Upon Trump's return to the White House, he appointed Musk to cut government spending through the Department of Government Efficiency (DOGE), which quickly sparked backlash. Musk's swift actions to reorganize and downsize federal agencies have raised a series of legal challenges, including a restraining order issued in March temporarily blocking DOGE staff from accessing the Social Security Administrations system. A group of labor and advocacy organizations questioned the legality of allowing DOGE access to their sensitive information database. Protesters not only expressed their dissatisfaction in Washington but also held demonstrations in European cities such as London, Lisbon, and Paris, with protests in front of a Tesla showroom in Berlin. Tesla has become a focal point of protests against Musk, with Tesla vehicles and dealerships across the US being targeted multiple times. Political implications and economic concerns: Signals for investors to watch This protest has significant political significance, as organizers and Democrats have used Musk's unpopularity to motivate protesters and voters. Last Tuesday, Musk-backed candidate Brad Schimel suffered a crushing defeat in the Wisconsin Supreme Court race, widely viewed as a referendum on the controversial billionaire. From an investment perspective, protesters are primarily concerned about the following: Negative impact of tariff policies on global supply chains and consumer prices; Severe damage to retirement accounts (401k) due to the stock market plunge; Potential long-term effects of federal agency cuts on research and infrastructure. Connor Hogan, a graduate student at the University of Pennsylvania, told the media that due to cuts in funding for institutions like the National Institutes of Health (NIH) by the Trump administration, graduate admission slots have decreased and labs have lost funding support. "Federal funding from the NIH is like the lifeline for biomedical research in the US," said the 27-year-old Hogan. "Trump's cuts to this funding will set back healthcare in America for decades." This article was reprinted from "Wall Street See", author: Pan Lingfei; GMTEight editor: Huang Xiaodong.