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According to the European Central Bank, on May 27th, the ECB warned in its Financial Stability Assessment Report that investors have downplayed multiple threats, including the Iran conflict, and financial markets face the risk of sudden significant adjustments. The report points out that although there have been some recent market adjustments, asset prices are still "high" by historical standards, and the downside risks brought by geopolitical, fiscal, and macro financial situations are "underestimated".