In this episode, Dan Nathan and Guy Adami break down a dramatic week in the markets, spotlighting the volatility surge driven by surprise tariff headlines and shifting macro risks. They dig into the growing dangers of passive investing, the outsized impact of the “Magnificent 7” on everyday portfolios, and why even small CapEx pullbacks in Big Tech could ripple across the market. The hosts also examine gold’s frenzy (fueled by retail and historic central bank buying) and debate whether recent sell-offs foreshadow a broader reset, and warn that rising tariffs, weak consumer signals, and struggling IPOs could all spell trouble ahead.