An aggressive selloff in longer-term U.S. Treasurys suggests virtually no investment is safe, as President Trump’s sweeping new tariffs go into effect.

In early U.S. trading, the yield on the benchmark 10-year note topped 4.47%. That was up from 4.26% Tuesday afternoon and less than 4% at the end of last week.

The yield on the 30-year bond rose even more, topping 4.9%. It briefly hit 5% overnight.

The dollar also weakened against major currencies, as government bonds in Europe mostly avoided the selloff.

Treasury yields, which fall when bond prices rise, initially plunged after Trump announced new tariffs on April 2, reflecting a flight to traditional havens as investors sold riskier assets like stocks.