The volatility index, though currently sitting lower, spiked above 50 following Trump’s initial tariff announcement—a level breached only three other times in history. Meanwhile, investors are dumping US assets. And not just equities. In an unorthodox move, US treasuries were massively sold off, with the yield on the US 10yr Treasury spiking. Amidst the bout of risk aversion, investors are questioning the US’s status as a safe haven. Gold however remains a good place to seek refuge.
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