Overview

• The S&P 500 fell over 3%, the Dow dropped more than 1,000 points, and the Nasdaq slid by more than 4% on April 10, marking a sharp reversal from the previous day's relief rally.
• The US dollar weakened to a 10-year low against the Swiss franc, while gold prices surged nearly 3% to record highs as investors sought safe havens.
• President Trump's temporary tariff reductions on April 9 had briefly buoyed markets, but unresolved tariff policies, including a 145% duty on Chinese imports, reignited fears of economic fallout.
• A strong US Treasury bond auction helped stabilize bond prices despite earlier concerns of large-scale selloffs linked to trade war tensions.
• Global markets also felt the impact, with European and Asian equities previously rallying on Trump's tariff pause but now facing renewed volatility.