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Fortune

Jason Ma

Dollar sinks as Trump's new tariffs raise fears about U.S. debt and reserve currency status. 'When it’s lost, economic collapse will follow'

United States Donald Trump Peter Schiff

(Credit: Getty Images)

The greenback dropped while precious metals rallied Sunday as financial markets started reacting to President Donald Trump’s new tariff threats.

The dollar sank 0.31% against the euro to $1.16 and tumbled 0.32% against the yen to 157.58. Meanwhile, gold rose 1.95% to a fresh record of $4,684.30 per ounce. Silver jumped 5.66% to $93.53, also a new high.

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