Wall Street shakes off tariff trepidation

Making sense of the forces driving global markets

By Alden Bentley, Breaking News Editor, Finance & Markets, Americas

Jamie is enjoying some well-deserved time-off, but the Reuters markets team will still keep you up to date on what moved markets today. 

Investors' aversion to uncertainty was the theme across global markets on Monday in the run up to U.S. President Donald Trump's promised April 2 "Liberation Day" tariff announcements.

After sharp share falls in Asia and Europe, the risk-off contageon hit Wall Street in early trade, while safe-haven Treasuries were bought and gold topped $3,100 an ounce for the first time.

However, the S&P 500 and the Dow clawed their way back into the green even as Treasury yields stayed slightly lower on the day amid worries about how Trump's trade war will impact U.S. and overseas growth.

Goldman Sachs said it increased the probability of recession this year to 35%, also lowering its US GDP growth forecast and year-end target for the S&P 500, establishing itself as the most bearish big firm so far. Month and quarter-ended adjustments were also afoot, so the choppiness was not a surprise.

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If you have more time to read today, here are a few articles I recommend to help you make sense of what happened in markets today.

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