MSCI's global equities gauge was down 1.7% after earlier touching a near two-month low on Monday while U.S. bond yields dropped as investors worried about an economic slowdown after U.S. President Donald Trump did not rule out a tariff-related recession. Investors started seeking safety as early as Sunday when Trump in a Fox News interview talked about a "period of transition" while declining to predict whether his tariffs on China, Canada and Mexico would result in a U.S. recession. Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut, cited concerns around tariffs including Trump's interview as key factors behind Monday's risk-off mood.