Market News
Investors pile into safe-haven currencies as tariff worries ripple through markets - REUTERS
By Chibuike Oguh and Yadarisa Shabong
Summary
- Investors scoop up the yen and Swiss franc
- Aussie steadies after hitting five-year low
- Markets leaning toward Fed cut in May
NEW YORK, April 7 (Reuters) - Investors bought into safe havens such as the dollar, yen and Swiss franc on Monday as concerns about a global recession heightened following U.S. President Donald Trump's sweeping tariffs on trading partners.
Global markets plunged on Monday, with Wall Street stocks trading lower after Asian shares sank, as investors wagered the mounting risk of a deep economic downturn could lead to a cut in U.S. interest rates as early as May.
