Dollar Emerges as Latest Victim of This Week’s Markets Mayhem

The dollar has emerged as the latest victim of this week’s market turmoil as a worsening global trade war risks derailing US economic growth.

A Bloomberg gauge of the greenback tumbled to a fresh six-month low Friday after China raised tariffs on all US goods to 125%, effective April 12. The index kept its losses as US wholesale prices fell in March by the most since 2023, showing tame inflation ahead of higher tariffs. Options traders turned bearish for the first time in five years as part of a broader exodus from US assets.

Haven currencies such as the yen, ...