(Bloomberg) — The stampede from global equities gathered momentum Monday and investors piled into haven assets as the fallout from US President Donald Trump’s tariffs deepened.
European stocks tumbled more than 5% at the open, sinking further into correction territory. US equity-index futures indicated Wall Street is in for another steep decline following the carnage on Wall Street last week. The 10-year Treasury yield fell to a six-month low, while traditional haven currencies like the yen and Swiss franc surged.
From Bill Ackman to Stanley Druckenmiller, investors have condemned Trump’s decision to launch expansive global tariffs in an attempt to reshape global trade in Washington’s favor. Federal Reserve Chair Jerome Powell made clear that the central bank won’t rush to react to the tariffs, which are…
