Trump tariffs spark US government debt sell-off

Confidence in the US economy is plummeting as investors dumped government debt amid growing concerns over the impact of Donald Trump’s tariffs.
On Wednesday, the yield – or interest rate – on US bonds spiked sharply to touch the highest level since February at 4.5%.
The government sell bonds – essentially an IOU – to raise money from financial markets and these are viewed as a safe investment, meaning the US normally does not need to offer high rates to attract buyers.
Trump has gone ahead with sweeping tariffs on goods being imported into the US, while Washington’s trade war with Beijing has escalated.
After the US implemented a 104% tariff on products from China at midnight on Wednesday, Beijing hit back with 84% levy on American products.

Source: BBC