US trade tensions remained the dominant driver of global financial markets. The S&P500 closed down 1.3% to a three month low. US bond yields fell to two-year lows, gold rose 1.3% to a two-month high, oil fell 4% to a three-month low, and the US dollar weakened. On Thursday night, US President Trump threatened to impose tariffs on Mexico unless it stops immigrants from entering the US illegally.