President Donald Trump's decision to slap $60 billion worth of tariffs on Chinese imports and that country's retaliation with levies of its own has slammed into financial market sentiment, pummeling equities lower and sparking concern about this trade war's impact on economic growth.

• Trump's trade war slams into global sentiment
• Saxo's Global Risk Indicator turns negative
• Equities taking the brunt of the hit; FX generally quiet
• Japanese yen shows modest gain
• Oil and gold higher; industrial metals slump