Today's slide deck.    -

Today we look at a historic, very bad day for US markets in the wake of Trump's Liberation Day tariffs as the market positions for disruption and widening recession risks. On that note, Europe is certainly at risk, especially relative to recent enthusiasm. Elsewhere, we talk through the FX market and how risk off may see some shifts in recent patterns, look at precious metals after the plunge in silver, discuss what OPEC+ just did that added to the downdraft in crude oil prices, and much more. On today's pod were Ole Hansen on commodities and John J. Hardy hosting.

Read John's FX Update from this morning, April 4.

Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.

Please reach out to us at [email protected] for feedback and questions.

Click here to open an account with Saxo.