Pelosi’s Taiwan Trip Raises Angst in Global Financial Markets

(Bloomberg) — Traders are bracing for U.S. House Speaker Nancy Pelosi’s expected arrival in Taipei Tuesday to raise tensions with China, with Asian stocks sliding and global havens the yen and Treasurys climbing.

Taiwan’s benchmark stock index fell as much as 2.1%, Hong Kong and Chinese shares slumped, while the Japanese currency touched a two-month high. Ten-year Treasury yields dropped for a fifth day and approached 2.5%, a level last seen in April. The Taiwan dollar hit its lowest since May 2020.