Global markets on Tuesday were rocked by Donald Trump Jr.’s shocking decision to release what he said was the full email correspondence between himself and a music publicist believed to have helped arrange a meeting in June 2016 at Trump Tower with a woman who was identified in the emails as a “Russian government attorney.”
The S&P 500 dropped as much as 0.6% on the news after trading little-changed for most of the morning. The Dow Jones industrial average slipped 0.2% as of 11:52 a.m. Eastern, while the more tech-heavy Nasdaq composite was unchanged.
The CBOE Volatility Index, or VIX, which has sat dormant near record lows for much of the year, spiked more than 9%. The so-called stock-market fear gauge still sits about 40% below its average for the eight-year bull market.
The 10-year Treasury yield fell to 2.37% after trading as high as 2.39% before the release. The spot price of gold, historically considered to be a safe-haven asset, rose 0.6% amid the uncertainty.
In currency markets, the ruble slid as much as 1.3% versus the US dollar, although the Russian currency was already down about 0.9% before the news. Meanwhile, the greenback weakened versus six of the so-called Group of 10 currencies, including a 0.2% loss against the yen.
This story is developing. Check back for updates.