London - The dollar fell broadly, reflecting investors' distaste for risk assets.
The Japanese yen, often perceived as a “safe haven” in uncertain times, hit a one-month high against the US currency and its strongest in 11 months against the euro.
Gold jumped and yields on low-risk German government bonds edged lower.
“We're still looking quite poorly, on the markets. The nervousness is still there,” said Terry Torrison, managing director at Monaco-based McLaren Securities.
European shares followed Asian stocks lower.
The pan-European FTSEurofirst 300 index fell 0.5 percent while MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8 percent to its lowest in almost seven months before paring losses.
Japanese markets were closed for a public holiday.
The MSCI All-Country World Index also hit its lowest in seven months on Monday and is now lower than where it started 2014.
On Wall Street on Friday, the S&P 500 index fell and posted its largest weekly decline since May 2012 and the Dow Jones Industrial average turned negative for the year.
Technology stocks were the big losers after chipmaker Microchip Technology warned of a broad-based industry downturn.
The Chinese trade numbers, which showed exports grew 15.4 percent year-on-year in September and exports rose 6 percent in value, both ahead of market expectations, eased fears of slowdown in the world's second-largest economy but could not dispel the broader concerns about global growth.
Investors have been cutting their exposure to riskier assets on worries about the impact of the US Federal Reserve ending its bond-buying stimulus later this month, mounting risks of recession in the euro zone and a floundering Japanese economy.
The International Monetary Fund's member countries called on Saturday for bold action to bolster the economic recovery.
The euro zone, without growth and flirting with deflation, faces the prospect of recession in its economic powerhouse, Germany.
Adding to the low mood, ratings agency Standard & Poor's revised on Friday France's credit outlook to negative and cut Finland's triple-A rating to AA+.
The dollar index, which measures the greenback against a basket of currencies was down 0.3 percent.
The yen gained 0.3 percent to 107.36 to the dollar and the euro dropped by a similar amount to $1.2667 (R13.97).
“We look for further yen upside against the dollar in coming weeks, as US (interest) rates are likely to adjust near-term lower,” said Petr Krpata, currency strategist at ING.
The euro was last flat against the yen at 135.96, off a low of 135.56 yen, its weakest since last November.
A combination of abundant supply and concerns about global demand has crushed crude oil prices in recent weeks.
Brent crude futures for November last traded at $88.64 yen, having touch $87.74 in Asian trade, its lowest since December 2010, although the Chinese trade data helped pare losses.
“Judging by the latest comments from Kuwait and Saudi Arabia, we expect more near-term downside ahead for oil prices amidst the ongoing global growth scare,” said Gordon Kwan, head of oil and gas research at Nomura.
Kuwait said OPEC was unlikely to cut production to support prices, while Saudi Arabia has privately told oil market participants it could be comfortable with $80 for oil.
Spot gold rose to a one-month high of $1,237.48 an ounce and last stood at $1,230.50. - Reuters