While most markets stabilised after sharp losses early in the day, assets considered low-risk - including gold, the yen and German bonds - remained in demand, with yields on the latter at the lowest in a month.
Recent events have again put equity markets, barely recovered from their February selloff, under a cloud.
The European Union, Canada and China are among those threatening to retaliate with tit-for-tat duties if US President Donald Trump proceeds with hefty tariffs on steel and aluminium imports.
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