Tariff War Woes Fuel Exodus From US Assets

A gauge of Asian stocks is on track for its third consecutive week of decline as market relief turned to angst after the White House clarified US tariffs on China rose to 145%. US Treasuries resumed a selloff from earlier in the week. Equity-index futures for the S&P 500 retreated 1%. In a sign investors are seeking havens and non-US alternatives, the euro soared as much as 1.6%, the yen strengthened and gold set a new high. We check in with Mark Cranfield, Bloomberg MLIV Strategist in Singapore. Less than 24 hours after President Donald Trump backtracked on his broader, once-in-a-century trade war to prevent a meltdown in financial markets, frantic selloffs hit US stocks, bonds and the dollar Thursday as fears of a worldwide recession engulfed Wall Street. We get some market perspective from Patrick Kennedy, Founding Partner at AllSource Investment Management.See omnystudio.com/listener for privacy information.