Trade Tensions Rattle Equities, Gold Hits Record High

Equities: U.S. markets experienced significant declines due to escalating trade tensions and concerns over economic growth. The S&P 500 fell 2.2%, the Dow Jones Industrial Average dropped 1.7%, and the Nasdaq Composite tumbled 3.07%.
Bonds: Treasury yields decreased by 4 basis points as investors sought safer assets amid market volatility.
Currency: The U.S. dollar weakened, with the dollar index declining by 0.5%, enhancing the appeal of gold and other safe-haven assets.
Key Developments:
- The U.S. imposed new export restrictions on AI chips to China, impacting companies like Nvidia, which reported a potential $5.5 billion revenue loss.
- Federal Reserve Chair Jerome Powell indicated signs of economic slowing, suggesting a cautious approach to future interest rate decisions.

Equities: European markets closed lower, with the STOXX 600 index down 1.92%, reflecting global trade uncertainties.
Bonds: Anticipation of further monetary easing by the European Central Bank (ECB) influenced bond markets.
Currency: The euro showed strength against the U.S. dollar amid expectations of ECB rate cuts.
Key Developments:
- The ECB is expected to cut interest rates for the seventh time this year to support the economy amid trade disruptions.

Equities: The FTSE 100 declined by 0.3%, influenced by a significant drop in Bunzl shares after the company cut its forecast and suspended its share buyback program.
Bonds: UK government bonds saw increased demand as investors sought safety.
Currency: The British pound remained relatively stable amid mixed economic signals.
Key Developments:
- UK inflation slowed to a three-month low in March, providing some relief to consumers.

Equities: The Shanghai Composite Index closed at 3,276.00, reflecting investor caution amid trade tensions.
Bonds: Chinese government bonds remained stable as the central bank maintained its policy stance.
Currency: The yuan faced downward pressure due to escalating trade disputes with the U.S.
Key Developments:
- China suspended deliveries of Boeing jets in response to new U.S. tariffs, intensifying the trade conflict.

Equities: The Nikkei 225 remained flat at 33,920.40, as investors weighed global trade concerns.
Bonds: Japanese government bonds saw increased demand amid global market volatility.
Currency: The yen strengthened against the U.S. dollar as investors sought safe-haven assets.
Key Developments:
- Japanese stocks have entered bear market territory, with the Nikkei down 20% from its peak, driven by concerns over U.S. tariffs and global recession risks.

Equities: Markets across the EMEA region experienced declines, mirroring global trends amid trade uncertainties.
Bonds: Government bonds in the region saw increased demand as investors moved to safer assets.
Currency: Currencies in emerging markets faced pressure due to global risk aversion.
Key Developments:
- BHP Group highlighted that escalating trade wars could significantly impact the global economy, emphasizing the need for adaptability.

Gold: Surged to a record high, with spot prices reaching $3,290.10 per ounce, driven by a weaker dollar and heightened trade tensions.
Oil: Brent crude rose 1.08% to $66.56 per barrel, while WTI crude increased 1.36% to $63.32, supported by supply concerns.
Copper: Experienced a slight decline of 0.19%, closing at $4.67 per pound, amid demand concerns.

Bitcoin (BTC): Traded around $84,000, recovering from lows below $77,000 seen last week.
Market Trend: The broader cryptocurrency market faced a downturn, with the CoinDesk 20 index declining by 3.75%.

Top Performers:
- Gold: +3.5%
- Brent Crude: +1.08%
- Bitcoin: +4.5% from recent lows
Worst Performers:
- Nasdaq: -3.07%
- S&P 500: -2.2%
- Copper: -0.19%