Traders are rushing to safe-haven assets as a selloff in US stocks triggers recession jitters on Wall Street. The trend has spread to Asia, with investors seeking refuge in currencies like the yen and euro amid concerns that US exceptionalism is losing its luster. China is also seeing a shift towards local peers, while Australian bonds are gaining appeal. This sentiment suggests a growing risk aversion among market participants.
Source: https://www.bloomberg.com/news/articles/2025-03-11/fears-of-us-contagion-force-traders-to-find-hedges-across-world