Under the influence of the "Trump effect" and the general US economy, the US stock market has recently reached a new high, but how long will it continue to rise at this historical high? Anbound Think Tank believes that this depends to a large extent on whether the Trump administration can fulfil its many policy commitments. The new capital bubble in the US stock market is growing, yet the Trump administration's existing policy is difficult to support the historical high capital market, especially when the US public debt and other factors will make tax cuts difficult to be implemented. Once Trump's charm begins to fade, the adjustment of US stocks will occur. It is worth noting that similar risk expectations have already begun to accumulate in the US market.