The dollar extended losses after its biggest plunge in three years while stocks and bonds sold off as a worsening global trade war eroded an already fragile appetite for risk.
A gauge of Asian stocks was on track for its third consecutive week of declines as market relief turned to angst after the White House clarified US tariffs on China rose to 145%.
US Treasuries extended the week’s slide. In a sign investors are seeking havens and non-US alternatives, the euro soared as much as 1.6%, the yen strengthened and gold set a new high.
A smartphone displays the SWIplus app with news for Swiss citizens abroad.
Next to it, a red banner with the text: ‘Stay connected with Switzerland’ and a call to download the app.
Just a day after financial markets cheered President Donald Trump’s decision to delay some of his sweeping tariffs, the selloff suggested skepticism about the planned talks with US trade partners and fear of escalating tensions with China.
