Bloomberg Daybreak: US Edition Trump Tariffs Take Effect; Vicious Treasury Sell-Off
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Apr 9, 2025 The implementation of President Trump's reciprocal tariffs sends shockwaves through the global economy, affecting around 60 countries. Surprisingly, China holds back its typical swift retaliation. Meanwhile, a steep sell-off in U.S. Treasuries raises eyebrows, leaving investors anxious about the safety of these assets. The discussion also touches on the tariffs' impact on Asian nations, the volatility in European markets, and the Fed's potential moves amid rising recession fears. Overall, economic uncertainties loom large as trade dynamics shift.
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Trade War Escalates
- President Trump's reciprocal tariffs are in effect, impacting roughly 60 countries.
- China faces the highest duties, reaching 104%, but hasn't retaliated immediately.
Market Volatility
- U.S. futures are mixed after a volatile session on Wall Street.
- The S&P 500 experienced its worst four-day run since March 2020, dropping almost 19% from its February record.
Treasury Sell-Off
- Treasuries are experiencing a sell-off, causing yields to rise.
- This raises concerns about their safe-haven status amid trade war fears.