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(Bloomberg) -- Chinese shares were on track for a four-day rally as expectations for stronger stimulus and hopes of an eventual trade deal with the US outweighed Donald Trump’s 145% tariffs.Most Read from BloombergMidtown Office Building Evacuated on Concerns of Wall CollapseIn Chicago, a Former Steel Mill Looks to Make a Quantum LeapThe Secret Formula for Faster TrainsHelicopter Crashes Into Hudson River With Multiple FatalitiesInside the Quiet, Extravagant Expansion of the Frick CollectionA ke

Equities markets are giving mixed results on trade war deescalations.

Asian shares sank on Friday after US stocks gave up much of their historic gains from the day before.View on euronews

Investors hoping for an end to wild market swings were reminded on Thursday that fallout from U.S. President Donald Trump's shifting tariff plans remains a threat to earnings and the economy, and could deal yet more punishment to equities. Relief over Trump's move on Wednesday to pull back on some of his heftiest global tariffs proved somewhat short-lived. Investors were unsettled by the escalating trade battle with China, the second-biggest provider of U.S. imports, while the president's 90-day pause on hefty levies elsewhere meant the tariff cloud was not going away anytime soon.

Fears of a sharp downturn in the global economy have sent markets convulsing once more, with action focused on currencies and bonds as the escalating U.S.-China trade war has investors throwing out the usual playbook and fleeing dollar-based assets. Stock futures in Europe were pointing to a subdued open but the Swiss franc reached a 10-year high and the yen was its strongest in six months. Gold prices resumed their march to successive record highs and the euro rose to levels not seen since February 2022.

Stocks plunged a day after a historic gain. The White House confirmed China's tariff rate was higher than initially thought, at 145%.

Global markets are reeling over President Donald Trump’s haphazard approach to tariffs and an escalating trade war with China. Stocks have been volatile, and an unsettling shift has emerged in the bond market.

Microchip Technology shares could remain on watchlists after tumbling 14% Thursday to lead chip stocks lower during a broad post-rally sell-off for U.S. equities. Monitor these important chart levels.

SINGAPORE (Reuters) -Global stocks fell and the dollar sank further on Friday, while a manic bond selloff took hold in a brutal end to the week of tit-for-tat worldwide tariffs that have fed fears of a deep recession and shaken investor confidence in U.S. assets. The anxiety has sparked a rush into safe havens, sending the Swiss franc soaring to a decade high against the dollar, and gold to a new peak after a brief but massive relief rally following U.S. President Donald Trump's move to temporarily lower tariffs on many countries. The selloff in U.S. Treasuries picked up pace during Asian hours, with the 10-year note yield rising to 4.45%, gaining about 45 basis points in the week, the biggest increase since 2001, LSEG data showed.

Bitcoin, Ethereum, and other cryptocurrencies surged after the latest U.S. inflation data showed a smaller-than-expected rise.