COMMENT| Something unusual is happening in global markets. Investors are no longer just reacting to interest rates or economic data. In recent days, a wave of selling has swept across American assets, from the US dollar to Wall Street stocks and even US government bonds. When investors lose confidence in a country’s leadership, policy direction and global role, they reduce exposure. Rising geopolitical tension and aggressive trade signals from Washington have unsettled markets that once treated American assets as the safest place to park money.