Markets fled to safety Thursday as Trump escalated tariffs on China to 125%, triggering a surge in gold, yen, and bonds. Despite a brief equity rally, investor confidence in U.S. trade policy and the dollar continues to erode.
Financial markets witnessed a swift flight to safety on Thursday after U.S. President Donald Trump intensified his trade war with China, sharply raising tariffs while simultaneously suspending levies on other nations for 90 days. Investors flocked to safe-haven assets such as the Japanese yen, Swiss franc, and gold, while U.S. Treasury bonds rallied, putting the dollar under broad pressure.
Despite Asian equities surging on hopes of eased trade tensions, Trump’s move to single out China with a staggering 125% tariff rate—up from 10%—sparked fresh market anxiety. The Chinese yuan briefly fell to its lowest level since 2007 before slightly recovering. Meanwhile, the Aussie and Kiwi dollars, initially hit due to close trade ties with China, regained momentum as the risk rally spread to Europe.
Analysts noted a growing crisis of confidence in U.S. trade leadership, citing the administration’s erratic policy shifts. ANZ analysts highlighted concerns over the long-term credibility of the U.S. dollar, while others warned of lasting economic damage.
With markets on edge, investors remain cautious, questioning whether temporary policy reversals can offset the uncertainty wrought by Trump’s aggressive trade manoeuvres.
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Iran’s Foreign Minister Abbas Araghchi said Tehran has “no trust” in the United States and will only consider negotiations if Washington shows seriousness. His remarks came as talks on Iran’s nuclear programme continued, with Trump and Xi also opposing Iran acquiring nuclear weapons.
The United States cast Israel-Lebanon talks held in Washington on Thursday as "productive and positive" and a State Department official said more discussions aimed at ending their conflict will continue on Friday.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 15th of May, covering the latest developments you need to know.
China stocks wavered in morning trade on Friday, with investors cautious heading into the last day of a high-stakes summit between U.S. and China's President, which has delivered a few deals so far.
Iran’s Foreign Minister Abbas Araghchi said Tehran has “no trust” in the United States and will only consider negotiations if Washington shows seriousness. His remarks came as talks on Iran’s nuclear programme continued, with Trump and Xi also opposing Iran acquiring nuclear weapons.
The U.S.-Israeli war with Iran loomed over U.S. President Donald Trump's visit to China, as signs emerged that the conflict is causing a shift in alliances across the Middle East.
Thousands of fans turned out in Iran's capital Tehran for a massive farewell ceremony on Wednesday night for their national football team, wishing them success before their departure for the World Cup 2026 matches co-hosted by the United States and Mexico.
Ukraine has stepped up attacks on Russian energy facilities in recent months, amid stalled progress in peace negotiations. The strikes have targeted refineries, processing plants, pipelines and export infrastructure, causing repeated disruptions across Russia’s energy sector.
Negotiations between Samsung Electronics and its workforce on Wednesday have broken down, officials said, raising fresh concerns over potential disruption to South Korea’s export-heavy economy.
China has launched the world’s first experiment to study how artificial human embryos develop in space, marking a major step in understanding whether humans could one day reproduce beyond Earth.
Every day, an elderly woman in China’s Shandong province looks forward to a video call from her son. He asks about her health, tells her he has been busy with work, and promises he will come home once he has saved enough money. She tells him she misses him. He tells her to take care of herself.
Deep in the ancient forests of southern China, researchers have discovered a small, shy snake with an extraordinary survival trick: when threatened, it creates the illusion that it has two heads.
Egyptian authorities have unveiled two restored ancient tombs in Luxor alongside a rare artefact linked to King Tutankhamun, offering visitors new insight into life and burial practices during the New Kingdom more than 3,000 years ago.
A U.S. Department of Justice official said Washington was preparing to indict former Cuban president Raúl Castro in connection with the 1996 downing of aircraft operated by "Brothers to the Rescue", a Miami-based exile group that conducted search-and-rescue flights for Cuban migrants.
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