Consumer sentiment tumbles in April as inflation fears spike, University of Michigan survey shows
The University of Michigan consumer survey’s mid-month reading on sentiment fell to 50.8.
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‘The damage is done’: Trump’s tariffs put the dollar’s global reserve status at risk
Experts say fears about unpredictable policy are creating crisis of confidence in US bonds once seen as ‘risk free’
In the global fallout from Donald Trump’s “liberation day” tariff announcement, it appears nowhere is safe. Crashing share prices, a sell-off in bonds and currency chaos erasing trillions of dollars of wealth in a matter of days.
On Friday the dollar fell by more than 1% relative to a basket of other currencies to reach its lowest level in three years, compounding an almost 10% slide since the start of the year. In the space of a week, it has lost about 3 cents against the pound and 4 cents against the euro.
BP faces shareholder backlash over U-turn on green strategy
Legal & General is ‘deeply concerned’ by decision to pivot back to oil and gas
Democrats call for insider trading investigation over Trump’s tariff pause
Elizabeth Warren and other senators urge SEC to look into whether president engaged in market manipulation
Several senior Senate Democrats have written a letter asking the Securities and Exchange Commission (SEC) to investigate whether Donald Trump violated securities laws and engaged in insider trading and market manipulation while switching course on his global tariffs.
“We urge the SEC to investigate whether the tariff announcements, which caused the market crash and subsequent partial recovery, enriched administration insiders and friends at the expense of the American public and whether any insiders, including the president’s family, had prior knowledge of the tariff pause that they abused to make stock trades ahead of the president’s announcement,” said the letter, led by Massachusetts senator and former presidential candidate Elizabeth Warren.
US stocks slide on opening as China raises tariffs to 125% – business live
Sell-off in US Treasuries continues as China ramps up trade war
- US stocks fall again after rally following Trump’s shock retreat on tariffs
- Life in Shanghai, China’s commercial capital, goes on but anti-US sentiment is hardening
The US dollar slumped on Friday as waning confidence in the US economy prompted investors to ditch US assets to the benefit of safe havens like the Swiss franc, yen and euro, as well as gold.
The yellow metal recorded a new all-time peak in early Asia trade, and the franc notched a fresh decade high, Reuters reports.
There has been a pronounced ‘sell US’ vibe flowing through broad markets and into the classic safe-haven assets, with the USD losing the safe-haven bid.