JPY

Financial markets are caught in the grip of a deepening selloff after a string of Trump administration officials hit the Sunday talk-show circuit to defend the president’s tariff policies, forcing investors to further mark down US asset values and slash global growth forecasts. Equity futures are setting up for another 3-percent drop at the open, benchmark ten-year Treasury yields are holding below the 4-percent threshold, and the safe-haven yen and euro are outperforming their advanced-economy peers as traders seek protection against the building storm. The administration’s messaging seems remarkably unified. Commerce Secretary Howard Lutnick said on CBS “The army of...

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...