Tariff Uncertainty Weighs on Markets and US Consumption
The dollar remains firmly on the offensive after Donald Trump reiterated his threat to impose near-universal 25 percent tariffs on Canada and Mexico as soon as next week. Ten-year Treasury yields are trading close to the 4.25 percent threshold after having lost almost 35 basis points since the middle of the month, the S&P 500 and Nasdaq stock indices have given back all of this year’s gains, and a sense of caution is gripping currency markets as a range of indicators point to an uncertainty-driven slowdown in the world’s largest economy—and in the countries that it trades with. The US...