Singapore Criticizes U.S. Tariffs Despite Free-Trade Deal 
RBNZ Poised to Cut Rates Amid US Tariffs and Global Slowdown Fears 
Russia Stocks Slip as Oil and Telecom Sectors Drag MOEX Lower 
Japan Stocks Plunge Amid Trump’s New Tariffs and Auto Import Crackdown 
Taiwan Stocks Tumble Nearly 10% Amid U.S. Tariff Shock 
Dollar Sinks as Global Recession Fears Drive Investors to Safe Havens 
Wall Street Futures Tumble Amid Rising Recession Fears and Trade War Worries 
Indian Rupee Eyes Trade Tensions, RBI Rate Decision Amid Market Volatility 
China’s Teapot Refiners See Modest Recovery Amid Sanctions and Weak Fuel Demand 
Asian Stocks Plunge as Trade Tensions Mount and Recession Fears Trigger Global Selloff. 
Conservative Legal Group Challenges Trump’s New China Tariffs in Federal Court 
Mexico Gains Preferential Tariff Treatment from U.S. Amid Trade Talks 
Japan Urges Tariff Relief as U.S. Duties Threaten Economic Growth 
Yen, Swiss Franc Surge as Trump Tariffs Trigger Global Recession Fears and Aussie, Kiwi Slide 
China’s Tariffs Push Soybean Trade Towards Brazil, Hitting U.S. Exports 
The U.S. dollar continued to face pressure on Friday, hovering near six-month lows against the safe-haven yen, as markets reacted to President Donald Trump's aggressive new tariffs and braced for key U.S. economic data.
After plunging 1.9% Thursday—its sharpest drop since November 2022—the U.S. dollar index steadied, but investor sentiment remained fragile. Trump’s announcement of a 10% baseline tariff on all imports, including 20% on EU goods, 24% on Japanese products, and 54% total on Chinese imports, rattled global markets. Both China and the EU vowed retaliation, raising fears of a full-scale trade war that could tip the global economy into recession and fuel inflation.
The dollar weakened 0.15% to 145.89 yen after dropping 2.2% the previous session, touching a low not seen since early October. The euro edged up 0.08% to $1.1060, while sterling held steady at $1.3103. Offshore, the yuan eased 0.13% to 7.2686 despite China’s market holiday.
Investors now await the U.S. nonfarm payrolls report, expected to show a slowdown in job growth to 135,000 in March. A weaker report could solidify expectations for Federal Reserve rate cuts. Traders are pricing in four quarter-point cuts this year, starting as early as June.
Yields on two-year U.S. Treasuries dropped further, slipping 6 basis points to 3.6611% after an 18-point plunge on Thursday. Fed Chair Jerome Powell is also set to speak later Friday, which could provide more insight into the central bank’s monetary policy stance.
Risk-sensitive currencies like the Australian and New Zealand dollars remained weak, while bitcoin climbed 0.9% to over $83,000, showing resilience amid broader market volatility.
