Global stocks drop on fears of expanding trade war – The Star Online

Global stocks drop on fears of expanding trade war  The Star Online

NEW YORK: Global equities tumbled and safe-haven sovereign bonds surged Friday after U.S. President Donald Trump’s unexpected threat of tariffs on Mexican goods added to fears that escalating trade wars will push the U.S. and other major economies into recession. The yield on Germany’s 10-year government bond – regarded as one of the safest assets in the world – fell to a record low while U.S. Treasury yields slipped to 20-month lows. Washington says it will impose a 5% tariff beginning June 10, which would then rise steadily to 25% until illegal immigration across the southern border is st…

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Source: Business News Feed