In Asian Equity Markets indices mixed in Monday morning amid increasing concerns over the state of global trade. Mainland Chinese shares mostly rose in morning trade, with the Shanghai composite adding 0.26%. Over in Hong Kong, the Hang Seng index declined marginally. In Japan, the Nikkei 225 fell 1.04% in morning trade as index heavyweight Fanuc saw its shares down more than 2%. Over in South Korea, the Kospi traded 0.58% higher as shares of industry heavyweight Samsung Electronics gained more than 2%.

In Currency Markets the yen brushed a more than four-month high against the dollar on Monday as U.S. President Donald Trump’s hard stance on trade broadened to countries beyond China, forcing investors to safe-haven assets, including government bonds. The yen was last steady at 108.23 yen per dollar, paring gains after briefly hitting 108.17, its highest since Jan. 15. On Friday, it had booked its sharpest daily rise in more than two years, climbing a little over 1.2% during the session.

In Commodities Markets oil prices fell more than 1% on Monday, extending losses of over 3% from Friday, when crude markets racked up their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown. Front-month Brent crude futures were at $61.16. That was 83 cents, or 1.3%, below Friday’s close. U.S. West Texas Intermediate (WTI) crude futures were at $52.88 per barrel, down 62 cents, or 1.2% from its last settlement.

In US Equity Markets stocks fell on Friday, as the S&P 500 closed out the month with its biggest May slump since 2010, after President Donald Trump’s surprise threat of tariffs on Mexico fueled fears that a trade war on multiple fronts could lead to a recession. Constellation Brands, which has substantial brewery operations in Mexico, fell 5.79%. The S&P 500 lost 1.32%, to 2,752.06 and the Nasdaq Composite fell 1.51%, to 7,453.15. Among other stocks, Gap Inc fell 9.32% as the worst performer on the S&P 500 after the apparel retailer cut its 2019 profit forecast.

In Bond Markets U.S. Treasury yields tumbled to 20-month lows on Friday after U.S. President Donald Trump said the United States would impose a tariff on Mexican goods, sparking broad risk aversion. Benchmark 10-year yields fell as low as 2.145 percent, the lowest since September 2017. The inversion between three-month bills and 10-year notes expanded as far as 24 basis points, a signal that a recession is likely to follow in one to two years.