Risk-off sentiment intensified on Monday as the slide in the yuan, and Beijing’s reported order to halt U.S. agricultural imports, sparked sell-offs in commodity and stock markets in Asia and Europe.
With risk-off sentiment in full swing, investors flocked to safe-haven assets in a flight from riskier equities.
In forex markets, safe-haven currencies such as the Japanese yen and Swiss franc rose against the U.S. dollar, while higher-yielders such as the Aussie dollar and New Zealand dollar fell.
Bitcoin, which some market participants argue should be considered a safe-haven asset, jumped around $1,000, shooting past $11,000 over the weekend for the first time in two weeks.
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