Global Selloff Ensues After Trump Rips Up World Trade Framework
Financial markets are in freefall across the planet after Donald Trump took aim at the international trading system with the most significant package of tariff increases in more than a century, threatening to inflict a third systemic blow against global growth in as many decades. The dollar is down more than 2 percent against a basket of its major counterparts, benchmark ten-year Treasury yields have fallen through the 4.05 percent threshold, and major North American equity markets are set to open more than 3 percent lower after a selloff rippled across Europe and Asia in the overnight session. Trump’s tariff...