Stocks skid, gold gains as tariffs wipe out inflation relief

Stocks sank in Asia on Thursday, reversing initial gains, as worries about the economic impact of President Donald Trump's trade policies overtook early optimism from a tepid reading of U.S. inflation.

Gold climbed to within $10 of its record peak and the safe-haven yen rallied, while U.S. Treasury yields turned lower. Crude oil prices also declined.