Currencies
As Trump Sinks Dollar, Once-Unthinkable Worry Grips Markets
US stocks slid again this week, with the S&P 500 Index falling another 2% Friday.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
As US stock prices tumbled this month, John Sidawi, a fund manager at Federated Hermes, noticed something strange.
The dollar, long a go-to hiding place during market selloffs, wasn’t rallying this time as investors rushed for safety. It was sinking, too, and fast as hot money poured into gold, the yen, European stocks — almost anywhere but the US.