Markets roil, golds surge amid reports that US will move forward with more Chinese tariffs

Fox News is reporting that the US administration is still on course to slap China with new tariffs on December 15. According to the report, that is the default, unless the world's largest economies strike a deal beforehand. 

Stock markets are selling off sharply and safe-haven assets such as the Japanese yen and gold are rising. USD/JPY has plunged to around 108.50 and the precious metal is trading at around $1,4780.