By Chuck Mikolajczak and Tom Westbrook NEW YORK/SINGAPORE (Reuters) -Gold hit a record high, the dollar was firm and Hong Kong shares advanced to a four-month peak on Tuesday as investors navigated shifts in U.

Economists at global banks from Morgan Stanley to Nomura Holdings Inc. have identified India and Thailand as among the nations most exposed to risks from President Donald Trump’s vow to impose reciprocal tariffs on trading partners.

The dollar firmed on Monday as fresh threats of tariffs from U.S. President Donald Trump dented risk sentiment, casting a shadow over commodities markets and putting pressure on the euro and the Australian and Canadian dollars.

Patriotic sentiment is bursting in Canada after President Trump’s threat to apply hefty tariffs and even annex the country. The damage to the two nations’ relationship could be lasting.

The Standard & Poor’s 500 climbed 0.7%, coming off a losing week that was bookended by worries about how potential tariffs could push up inflation and threaten the economy. The Dow Jones industrial average added 167 points, or 0.4%, and the Nasdaq composite rallied 1% as Nvidia and other Big Tech stocks led the way.

The two Asian countries stand out because the tariffs they impose on the US are, on average, far above the rate charged on them by the US, according to a range of estimates from analysts who considered scenarios of like-for-like levies.

Gold prices jumped more than 1% on Monday to hit a record high, as safe-haven demand surged on fears of a global trade war after U.S. President Donald Trump announced new tariff plans. Spot gold was up 1.

Lauded as “tough” and “smart” by President Donald Trump, Hungary’s Viktor Orban is among the eastern European leaders hoping that allegiance to the US will translate into deals and economic gains. Instead,

Tariffs were back in the spotlight on the Ontario election campaign trail Monday, as the major party leaders brace for potential U.S. levies on several key Canadian goods.