Nigerian assets tumble sharply. Earlier, Trump threatened military action against the country.

American President Donald Trump has threatened that if the Nigerian government does not stop Islamic militants from killing Christians, military action will be taken against the country. As a result, Nigerian dollar bonds experienced the largest decline in emerging markets on Monday. Data shows that as of 10:45 am Lagos time, all durations of Nigerian dollar bonds experienced declines, occupying all 10 positions of the worst-performing bonds in global emerging markets. The 2047 maturity bonds had the largest decline, dropping by as much as 0.6 cents per USD buy price to 88.26 cents, before narrowing the decline.