Bonds & Stocks
Wall Street had a rough start to the week on concern that a cheaper artificial intelligence-model from China could threaten the dominance of US technology, spurring a selloff in stocks and a flight to haven assets. From New York to London and Tokyo, equities got hammered, with the S&P 500 dropping 1.9% and the Nasdaq 100 down 3.1%.
Economy
The yield on 10-year US notes fell as much as 12 basis points — the most in almost two weeks — to 4.50%, while the policy-sensitive two-year rate dropped 10 basis points to 4.17%, the lowest in over a month. Haven currencies including the yen and the Swiss franc surged.
World
US President Donald Trump announced sweeping tariffs on Colombia before abruptly pulling the threat after reaching a deal on the return of deported migrants, a move that rattled global markets in the space of several hours.