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LONDON (Reuters) -In times of market panic investors tend to rush to the safety of the dollar, but when stocks swooned in response to U.S. tariffs this week, they ran away from it. The dollar, for decades a safe haven, on Thursday fell about 1.7% in its biggest daily drop since November 2022, after President Donald Trump imposed tariffs on imports at levels not seen since the early 1900s. Stock markets also tanked, as tariffs ignited recession worries.

US stocks opened sharply lower Friday after China retaliated against the United States for President Donald Trump’s tariffs in a tit-for-tat that escalates a global trade war.

The major U.S. stock indexes dropped sharply in Friday trading as President Donald Trump's historic tariffs announcement sent shock waves through the global economy.

(Bloomberg) -- There’s virtually nowhere to hide for many US technology companies under President Donald Trump’s new tariff regime, the harshest in a century.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersMetro-North Is Faster Than Acela on NYC-New Haven Route After Signal UpdatesLocal Governments Vie for Fired Federal WorkersLondon Clears Final Hurdle for More High-Speed Trains to EuropeWhat Would ‘Transportation Abundance’ Look Like?After Thursday’s slump wiped $1.4

Booking Holdings upgraded, Nordstrom downgraded: Wall Street's top analyst calls

Guess? plans to turn over its direct operations in China to a local partner and reduce its North American footprint.

Employers hired more people than forecasters had expected in March, showing a job market more resilient than expected right before President Donald Trump's "Liberation Day" tariff announcement shook up the economy. However, the backward-looking data may be of little use in predicting the economy's trajectory in a post-tariff world.