After Donald Trump was elected, because of the "Trump effect", the US stocks showed great improvement, yet now there is a clear decline. In this regard, Anbound research team believes that in the long-term economic fundamentals, the US long-term labor growth rate is low, but the debt burden is huge, this lasting contradiction will continue to plague the US economy. In the medium-term government policy, Trump has issued a few pillar policies: infrastructure investment, health insurance reform, liberalization of financial supervision and tax cuts; however these all have their own constraints and collective uncertainty. In the short-term investor sentiment, the market is expected to have differences. From many indications, after the "Trump effect" dissipates, the US stocks may enter a new "shock period."