PANews reported on April 9 that Arthur Hayes pointed out in an article that the current market has entered a "bad mode", that is, the US stock market and the 10-year US Treasury yield have fallen at the same time, reflecting the market's panic about the economic outlook. He emphasized that if the export dollar income decreases, it will lead to a lack of funds flowing into the US market, unable to support the purchase of government bonds and stocks, indicating that "the game is over."