Former Treasury Secretary Janet Yellen said economic uncertainty around President Trump's whiplash tariff policies has prompted a "really very worrisome" trend for dollar-based assets.

"We saw a very unusual pattern over the last couple of weeks in financial market developments," Yellen said during a Monday morning appearance on CNBC's "Squawk Box." "I don't think we're seeing dysfunction in the sense of liquidity completely drying up in the markets, but a pattern suggestive of a loss of confidence in U.S. economic policy."

"The safety of bedrock financial assets is really very worrisome," she added.

Treasurys

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