According to online reports, JPMorgan strategist Mislav Matika pointed out that if the Federal Reserve cuts interest rates due to economic weakness or political pressure, it may trigger shocks in the stock, bond and foreign exchange markets. The bank's analysis of data since 1980 shows that the US dollar usually weakens during the interest-rate cut cycle, U.S. bond yields decline, and emerging market stocks perform relatively well. Morgan Stanley analyst Mike Wilson added that stocks tend to reflect policy shifts in advance, but if employment data deteriorates significantly, U.S. stocks 'gains may be blocked. The current S & P 500 index rose by 5% during the year, which is lower than the 21% increase in European stock markets.