Stocks and bonds sink in broad Wall St retreat from US assets

As investors turned away from US securities, haven assets climbed. Gold jumped to another record, above $3,420 an ounce.

Heavy selling lashed Wall St anew on Monday, with longer-dated treasuries joining stocks and the dollar in a deepening slump, after US president Donald Trump’s rejection of Jerome Powell’s interest-rate policy sowed fresh angst among investors already coping with a global trade war.

Mr Trump’s assurances that tariff talks were progressing did little to stop the rout. The S&P 500 and other major US stock indexes fell more than 2% each, while a dollar index weakened to a 15-month low. The benchmark 10-year fell with the yield close to 4.4%.