Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
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Asian markets tumbled Monday, with U.S. equity futures pointing sharply lower after President Donald Trump imposed tariffs on Canada, Mexico, and China. Concerns over a trade war and its economic fallout sent the U.S. dollar surging to record highs against the Chinese yuan, Canadian dollar, and Mexican peso.
Japan’s Nikkei fell 2.3%, while Australia’s benchmark dropped more than 2%. Hong Kong markets opened later, and mainland Chinese exchanges remained closed for Lunar New Year. S&P 500 futures declined 1.7%, while Nasdaq futures slumped 2.5%.
Trump imposed a 25% tariff on Canada and Mexico and a 10% levy on China, citing illegal immigration and drug trade concerns. Canada and Mexico announced immediate retaliatory measures, while China vowed to challenge the tariffs at the World Trade Organization. The tariffs, set to take effect Tuesday, could trigger a global trade war, with analysts warning of inflationary pressures and economic slowdowns.
EY’s chief economist Greg Daco projected U.S. growth could shrink by 1.5 percentage points, pushing Canada and Mexico into recession. Barclays estimated a 2.8% earnings hit for S&P 500 companies.
The U.S. dollar climbed 0.7% to 7.2552 yuan offshore, reaching a record 7.3765 earlier. It also gained 2.3% against the Mexican peso and 1.4% versus the Canadian dollar, hitting its highest level since 2003. The euro dropped 2.3% to $1.0125, and the yen lost 0.2% to 155.53 per dollar.
Bitcoin fell 5.8% to a three-week low of $96,191.39. Meanwhile, oil prices rose, with WTI crude up 2.4% to $74.27 per barrel and Brent crude gaining 1% to $76.40.
