Investors see red

Market rout extends to bonds and the dollar.

Get full access to Reuters.com for just $1/week. Subscribe now. Daily Briefing Daily Briefing By Edson Caldas Donald Trump's "reciprocal" tariffs on dozens of countries have taken effect, including eye-watering 104% duties on Chinese goods. We look at the markets carnage that followed and China's response. Today we're also covering a coalition deal in Germany and a roof collapse at a nightclub in the Dominican Republic. Plus, the dire wolf is making a comeback. Business & Markets   Stock index movements in Bangkok on April 9, 2025. REUTERS/Athit Perawongmetha Trump tariffs kick in Global markets were pummeled as President Donald Trump's punishing tariffs took effect, with US bonds extending heavy losses, in a sign investors are dumping even their safest assets. Watch our daily rundown on financial markets and follow live updates here. Analysis: The violent Treasury selloff, evoking the COVID-era "dash for cash," has reignited fears of fragility in the world's biggest bond market. China's top leaders plan to meet as soon as today to hammer out measures to boost the economy and stabilize capital markets, sources said. Greater China Bureau Chief Kevin Krolicki tells the Reuters World News podcast that Beijing wants to play both offense and defense in response to Trump's tariffs. Euro zone economic growth could fall much more from the impact of the tariffs than initially estimated and the turmoil could also drag inflation down in the near term, four sources told Reuters. In other business news Taiwan Semiconductor Manufacturing could face a penalty of $1 billion or more to settle a US export control investigation over a chip it made that ended up inside a Huawei AI processor, according to two people familiar with the matter. Separately, Trump said he told TSMC it would pay a tax of up to 100% if it doesn't build in the US. Britain's hopes of an equity capital market revival are weighing heavily on a secondary share trading platform that is sowing discord in the finance sector months before its launch. You can read our explainer on the Private Intermittent Securities and Capital Exchange System, or PISCES. World News   Rescue teams continue working into the night at the site of the collapsed Jet Set nightclub in Santo Domingo. REUTERS/Erika Santelices A catastrophic roof collapse at a nightclub in the Dominican Republic's capital left at least 79 people dead, and emergency crews were working frantically after nightfall to pull survivors from the rubble. About 155 people were injured. Three American citizens jailed over a failed coup attempt in Democratic Republic of Congo were handed over to US custody, following high-level talks between the two countries on security and mining deals, the Congolese presidency told Reuters. As calls for Lebanon's Hezbollah to disarm gain momentum, a senior Hezbollah official told Reuters the group is ready to hold talks with the Lebanese president about its weapons if Israel withdraws from south Lebanon and stops its strikes. German conservatives under Friedrich Merz reached a coalition deal with the center-left Social Democrats, aiming to revive growth in Europe's largest economy. Merz, who called Trump's US an unreliable ally, has already vowed to build up defense spending. US politics Democratic Senator Ron Wyden plans to put a hold on Donald Trump's appointee for the US cybersecurity agency, citing what the Oregon senator called a "multi-year cover up" of serious vulnerabilities in the US telecommunications network. The acting head of the Internal Revenue Service plans to resign, the Treasury Department said, a move that comes after the agency struck a controversial deal to share tax data on undocumented immigrants with federal agents. Trump's administration moved to reinstate at least six recently canceled US foreign aid programs for emergency food assistance, sources told Reuters. The reversal of decisions made just days ago underscored the rapid-fire nature of Trump's cuts to foreign aid.  In graphics: How South Korea's largest and deadliest wildfire spread     Spread by strong winds in bone-dry conditions, the wildfires have killed scores of people and charred thousands of hectares in the southeastern part of the country. In this visual piece, our graphics team takes a closer look at them. View full report And Finally... US company resurrects the extinct dire wolf, or some version of it. Handout via REUTERS The dire wolf was one of the most formidable predators in the Americas during the last Ice Age. Now, a US company has taken a step aimed at bringing the species back from oblivion. Dallas-based Colossal Biosciences has announced the birth of three genetically engineered wolf pups created with the help of ancient DNA obtained from fossilized remains of dire wolves. Read more Sponsors are not involved in the creation of newsletters or other Reuters news content. Advertise in this newsletter or on Reuters' website Reuters Daily Briefing is sent 5 days a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. This email includes limited tracking for Reuters to understand whether you've engaged with its contents. For more information on how we process your personal information and your rights, please see our Privacy Statement. Terms & Conditions © 2025 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036