Stocks are sliding further, adding to losses after a $2.5 trillion wipeout of US equities. Treasuries rallied, pushing 10-year crops below 4% once more, and the dollar steadied.

 

The US probably added 140,000 new jobs in March, a slowdown from the prior month yet a still-healthy pace of hiring. The report is due at 8:30 a.m. in Washington.

 

Wall Street rebelled against the US trade war, sending US stocks down about 5% — the worst daily loss since 2020 — and erasing all the dollar's gains since the US election. All of the greenback's Group-of-10 peers rallied — led by the Japanese yen and Swiss franc as traders sought havens.

 

Treasuries gained, with the yield on the benchmark 10-year falling briefly below 4% for the first time since October. Money markets fully priced in three quarter-point interest-rate cuts this year, with about a 50% chance of a fourth.

 

Oil fell sharply on the twin hit of US tariffs and OPEC+'s shock announcement that it was increasing supply by three times the planned amount in May. Delegates described the cartel's move as a deliberate effort to drive down prices.