Morning Economic Report 4/4/25

The carnage continues. Dollar-denominated assets are under pressure, and bonds are sought after. Recession fears are clearly rising and in tandem with the growing anxiety of recession interest rate cuts by central banks of major economies are widely anticipated. Bank shares are hard hit. Mood could darken further if the nonfarm payroll data this afternoon disappoints. China imposes additional 34% tariffs from April 10 on all US goods. European shares are down 3% this morning.