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</td>
</tr>
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</td>
<td class="column column-2" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;vertical-align:top" width="83.33333333333333%">
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px;padding-top:15px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
MARCH 2008
</p>
</div>
</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:10px;padding-left:10px;padding-right:10px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:20px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:30px">
<p style="margin:0">
Bear Stearns Collapse
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="image_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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<td class="pad" style="padding-left:10px;padding-right:10px;width:100%">
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<img alt="Image of man holding up the sign 'Why Should My Money Bail Out Bear Stearns???'" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fbazh%252F4zc1t8c5%252F1k0%252F2v5%252Ft2k%252FBear%2520Stearns%252008.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NDQ5MTUyMzMuNjg3NTQ4NH0:1u5UA5:Co6xdWjwa8Intc5SX4sTsQf7JBsbeKyoXOpErFicVmc" style="display:block;height:auto;border:0;width:100%" title="Image of man holding up the sign 'Why Should My Money Bail Out Bear Stearns???'" width="476.667"/>
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<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;padding-top:10px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
WHAT HAPPENED
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:20px;padding-left:10px;padding-right:10px;padding-top:6px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
Just before Easter 2008, Bear Stearns, a major investment bank, collapsed and was acquired by JPMorgan Chase with Federal Reserve assistance.
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-6" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;padding-top:5px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
WHY IT MATTERED
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-7" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:20px;padding-left:10px;padding-right:10px;padding-top:6px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
This was one of the first major signs of the 2008 financial crisis. The rescue deal was announced March 16th, just one week before Easter.
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-8" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;padding-top:5px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
WHO WON?
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-9" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:20px;padding-left:10px;padding-right:10px;padding-top:6px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
Retail investors who bought put options on Bear Stearns or financial sector ETFs, or who moved early into safer assets like cash or gold, were able to protect their portfolios and even profit as warning signs of the banking crisis emerged.
</p>
</div>
</td>
</tr>
</table>
</td>
<td class="column column-3" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;vertical-align:top" width="8.333333333333334%">
<table border="0" cellpadding="0" cellspacing="0" class="empty_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad">
<div>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tbody>
<tr>
<td>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;border-left:2px solid #cdd1fb;border-right:2px solid #cdd1fb;color:#000;border-radius:0;width:600px;margin:0 auto" width="600">
<tbody>
<tr>
<td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;vertical-align:top" width="8.333333333333334%">
<table border="0" cellpadding="0" cellspacing="0" class="image_block block-1 mobile_hide" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-top:10px;width:100%;padding-right:0;padding-left:0">
<div align="center" class="alignment">
<div style="max-width:49.667px">
<img alt="" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fbazh%252F4zc1t8c5%252Fwma%252F8md%252Fv2z%252FDivide%2520E.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NDQ5MTUyMzMuNjg3NzYyfQ:1u5UA5:1utmALaCC7mth8vrkFpQafqB3ieTdBYD_4HRW9PdcX0" style="display:block;height:auto;border:0;width:100%" title="" width="49.667"/>
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</div>
</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="image_block block-2 desktop_hide" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;mso-hide:all;display:none;max-height:0;overflow:hidden" width="100%">
<tr>
<td class="pad" style="padding-top:10px;width:100%;padding-right:0;padding-left:0">
<div align="center" class="alignment">
<div style="max-width:49.667px">
<img alt="" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fbazh%252F4zc1t8c5%252F6mm%252F18e%252F6f2%252FDivide%2520E%2520m.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NDQ5MTUyMzMuNjg4MDc5fQ:1u5UA5:MU_CNrEH-BzU2KsJrUi9p0BalW_FpYB4pc1XChvQF3E" style="display:block;height:auto;border:0;width:100%" title="" width="49.667"/>
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</td>
<td class="column column-2" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;vertical-align:top" width="83.33333333333333%">
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px;padding-top:5px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
APRIL 2020
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:10px;padding-left:10px;padding-right:10px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:20px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:30px">
<p style="margin:0">
COVID-19 Market Crash
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="image_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;width:100%">
<div align="center" class="alignment">
<div class="fullWidth" style="max-width:476.667px">
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<img alt="Image of two doctors supporting each other" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fbazh%252F4zc1t8c5%252F5od%252Fz0w%252Fykz%252FCovid%252020.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NDQ5MTUyMzMuNjg4MzMxOH0:1u5UA5:Qk6MFZio9OblA5cvfWWDuQwfamYKUR_uoY3TAvXFwxw" style="display:block;height:auto;border:0;width:100%" title="Image of two doctors supporting each other" width="476.667"/>
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</div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;padding-top:10px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
WHAT HAPPENED
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:20px;padding-left:10px;padding-right:10px;padding-top:6px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
The markets suffered a historic crash in March 2020 due to COVID-19 fears. By Easter, markets had started a volatile recovery helped by stimulus packages.
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-6" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;padding-top:5px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
WHY IT MATTERED
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-7" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:20px;padding-left:10px;padding-right:10px;padding-top:6px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
The crash triggered global recessions, and the recovery plans changed monetary policy around the world.
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-8" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;padding-top:5px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
WHO WON?
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-9" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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<td class="pad" style="padding-bottom:20px;padding-left:10px;padding-right:10px;padding-top:6px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
Those who bought the dip in strong tech/growth names or bet on stay-at-home trends saw explosive returns during the rapid recovery.
</p>
</div>
</td>
</tr>
</table>
</td>
<td class="column column-3" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;vertical-align:top" width="8.333333333333334%">
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<div>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
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<table border="0" cellpadding="0" cellspacing="0" class="image_block block-1 desktop_hide" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;mso-hide:all;display:none;max-height:0;overflow:hidden" width="100%">
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<td class="pad" style="padding-top:10px;width:100%;padding-right:0;padding-left:0">
<div align="center" class="alignment">
<div style="max-width:49.667px">
<img alt="" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fbazh%252F4zc1t8c5%252F6mm%252F18e%252F6f2%252FDivide%2520E%2520m.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NDQ5MTUyMzMuNjg4NTE0N30:1u5UA5:lspZTRErgthajf3VksKcprRNBJ2pnef-EgG5Gey1njg" style="display:block;height:auto;border:0;width:100%" title="" width="49.667"/>
</div>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="image_block block-2 mobile_hide" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-top:15px;width:100%;padding-right:0;padding-left:0">
<div align="center" class="alignment">
<div style="max-width:49.667px">
<img alt="" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fbazh%252F4zc1t8c5%252Fwma%252F8md%252Fv2z%252FDivide%2520E.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NDQ5MTUyMzMuNjg4NzA0NX0:1u5UA5:Zj56WdSxML7vOVE83ZtP6PAnUpZsP3yrGb8N4RdRRjo" style="display:block;height:auto;border:0;width:100%" title="" width="49.667"/>
</div>
</div>
</td>
</tr>
</table>
</td>
<td class="column column-2" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;vertical-align:top" width="83.33333333333333%">
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px;padding-top:10px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
APRIL 2022
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:10px;padding-left:10px;padding-right:10px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:20px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:30px">
<p style="margin:0">
Beginning of Bitcoin Crash
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="image_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;width:100%">
<div align="center" class="alignment">
<div class="fullWidth" style="max-width:476.667px">
<a style="outline:none" tabindex="-1" target="_blank">
<img alt="Image of Bitcoin" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fbazh%252F4zc1t8c5%252Fkgi%252F7hv%252Fzzf%252FBitcoin%252021.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NDQ5MTUyMzMuNjg4ODgyNn0:1u5UA5:5Hs3si13DoU-GHC1NmULa22bFZISeMcDA4xAgo8T204" style="display:block;height:auto;border:0;width:100%" title="Image of Bitcoin" width="476.667"/>
</a>
</div>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;padding-top:10px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
WHAT HAPPENED
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:20px;padding-left:10px;padding-right:10px;padding-top:6px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
The US Securities and Exchange Commission (SEC) announced that it would begin to put regulations on crypto agencies, setting the stage for a broad selloff.
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-6" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;padding-top:5px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
WHY IT MATTERED
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-7" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:20px;padding-left:10px;padding-right:10px;padding-top:6px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
The crash shook confidence in the crypto ecosystem, setting the stage for major collapses like FTX and exposing deep systemic risks.
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-8" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;padding-top:5px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
WHO WON?
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-9" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:20px;padding-left:10px;padding-right:10px;padding-top:6px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
Investors who anticipated the uncertainty and sold before the crash ultimately emerged as the biggest winners – along with those who were able to purchase assets at significantly lower prices afterwards.
</p>
</div>
</td>
</tr>
</table>
</td>
<td class="column column-3" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;vertical-align:top" width="8.333333333333334%">
<table border="0" cellpadding="0" cellspacing="0" class="empty_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad">
<div>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-6" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tbody>
<tr>
<td>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#e4e8f3;border-bottom:2px solid #cdd1fb;border-left:2px solid #cdd1fb;border-right:2px solid #cdd1fb;color:#000;border-radius:0 0 12px 12px;width:600px;margin:0 auto" width="600">
<tbody>
<tr>
<td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;vertical-align:top" width="8.333333333333334%">
<table border="0" cellpadding="0" cellspacing="0" class="image_block block-1 mobile_hide" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-top:20px;width:100%;padding-right:0;padding-left:0">
<div align="center" class="alignment">
<div style="max-width:49.667px">
<img alt="" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fbazh%252F4zc1t8c5%252Fwma%252F8md%252Fv2z%252FDivide%2520E.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NDQ5MTUyMzMuNjg5MDUxOX0:1u5UA5:mjmysdwijo4QNQigCr6v4o5-JOnD8St1fnuoPq1lG6w" style="display:block;height:auto;border:0;width:100%" title="" width="49.667"/>
</div>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="image_block block-2 desktop_hide" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;mso-hide:all;display:none;max-height:0;overflow:hidden" width="100%">
<tr>
<td class="pad" style="padding-top:15px;width:100%;padding-right:0;padding-left:0">
<div align="center" class="alignment">
<div style="max-width:49.667px">
<img alt="" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fbazh%252F4zc1t8c5%252F6mm%252F18e%252F6f2%252FDivide%2520E%2520m.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NDQ5MTUyMzMuNjg5MjIxNH0:1u5UA5:KXRIc0fnz3BNP9VepYhH9tPtDqYkN_YyLTVVxQFmgRc" style="display:block;height:auto;border:0;width:100%" title="" width="49.667"/>
</div>
</div>
</td>
</tr>
</table>
</td>
<td class="column column-2" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;vertical-align:top" width="83.33333333333333%">
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px;padding-top:15px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
APRIL 2025?
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:10px;padding-left:10px;padding-right:10px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:20px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:30px">
<p style="margin:0">
Reciprocal Tariffs
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="image_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;width:100%">
<div align="center" class="alignment">
<div class="fullWidth" style="max-width:476.667px">
<a style="outline:none" tabindex="-1" target="_blank">
<img alt="Image of Donald Trump holding a sign that reads 'Reciprocal Tariffs' at the top" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fbazh%252F4zc1t8c5%252Fk0i%252F5y6%252Fr7a%252FTariffs%252025.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NDQ5MTUyMzMuNjg5Mzk5Mn0:1u5UA5:v0vEsD585gdWHWhnBFUTF9EqucV6CQKI6wB4WRgfiAM" style="display:block;height:auto;border:0;width:100%" title="Image of Donald Trump holding a sign that reads 'Reciprocal Tariffs' at the top" width="476.667"/>
</a>
</div>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;padding-top:10px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
WHAT'S HAPPENING
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:20px;padding-left:10px;padding-right:10px;padding-top:6px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
The US imposed steep tariffs on imports, especially from China, prompting global retaliation.
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-6" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-left:10px;padding-right:10px;padding-top:5px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
WHY IT MATTERS
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-7" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:20px;padding-left:10px;padding-right:10px;padding-top:6px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
It’s disrupting trade, raising costs, and shaking up global markets.
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-8" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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<td class="pad" style="padding-left:10px;padding-right:10px;padding-top:5px">
<div style="color:#000;direction:ltr;font-family:Inter,Helvetica,Verdana,sans-serif;font-size:16px;font-weight:700;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:24px">
<p style="margin:0">
HOW COULD YOU WIN?
</p>
</div>
</td>
</tr>
</table>
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<p style="margin:0">
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