Stocks, dollar sink, bonds pummelled again as trade war roils markets

Global stocks slumped and the dollar sank further on Friday amid escalating worldwide tariffs, causing a manic bond selloff and sparking a rush into safe havens like the Swiss franc and gold. The selloff in U.S. Treasuries accelerated, with the 10-year note yield rising significantly, leading to concerns about confidence in the U.S. economy. The ongoing Sino-U.S. trade war, with Trump increasing tariffs on Chinese imports and China retaliating, has heightened uncertainty, while the dollar’s decline has benefited currencies in emerging markets and led to a surge in gold prices.

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