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Dollar, Bonds Plunge as Trump Turns Up Rhetoric: Markets Wrap

  • S&P 500, Dow Jones Industrial close lower for a second day
  • Oil finishes down on week even after four consecutive gains
Bloomberg business news
Steve Auth, equities chief investment officer at Federated Investors, says market fundamentals are "really good."Source: Bloomberg
Updated on

The dollar weakened the most since March, Treasuries tumbled and stocks closed mostly lower after President Donald Trump’s latest verbal salvos fanned investor concern that a global trade war is escalating.

Financial markets were upended after Trump said he’s “ready to go” with additional import tariffs and that China, the European Union and others have been manipulating their currencies and interest rates. Yields on Treasuries climbed the most since May as Trump reiterated that he’s unhappy with the Federal Reserve tightening after the administration has worked so hard to grow the economy.