trade wars

Market Selloff Deepens Amid Trade Uncertainty and Recession Fears

Wall Street plunged and Treasury yields fell on recession fears, triggered by relentless tariff wrangling and uncertainties surrounding U.S. trade policies. Economic growth and demand concerns weighed on oil prices too. The dollar weakened against the Japanese yen. Gold dropped on profit booking.

Global Markets Shaken by Tariffs: Currencies, Equities, and Commodities Under Pressure

Markets were spent most of the overnight session reacting to the implementation of tariffs by the US. However, news of a possible reversal late in the session saw reversals. 

The DXY fell as implications of tariffs on the US economy are considered. The euro outperformed rising to a multi-month high following the announcement of a defence fund in Germany. 

An increase in risk sentiment saw bond yields jump while equities finished lower.