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Stocks Slide, Bonds Climb as Trade Tensions Rise: Markets Wrap

  • Italian bonds extend their rally; WTI oil slips; gold drops
  • Tech shares edge high; emerging-market equities rally
Bloomberg business news
Trump to Impose Steel Tariffs on EU, Mexico, Canada
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The Trump administration’s tariffs on imports from key allies sent U.S. and European stocks into a tailspin and stoked demand for the safety of Treasuries.

The S&P 500 fell for the fourth time in five days, paring a monthly advance as the president’s escalation of trade tensions with Canada, Mexico and the European Union hammered American industrial and financial shares. Deutsche Bank AG fell to a record low after reports that U.S. regulators added it to a group of troubled lenders they monitor. The 10-year Treasury yield fell to 2.84 percent, while Mexico’s peso and Canada’s dollar retreated.