WASHINGTON — U.S. President Donald Trump’s decision on Wednesday to halt most of his reciprocal tariffs after just 13 hours was due to the triple whammy of market turmoil for stocks, the dollar and even U.S. Treasurys, whose status as a safe haven asset was called into question.
There is growing anxiety that the growing trade war will turn into a financial war, in which countries target each other’s debt and currencies to inflict harm.
