The Fort Worth Press - Stock markets diverge as Trump fears build

USD -
AED 3.673025
AFN 68.000474
ALL 93.02026
AMD 388.466711
ANG 1.802136
AOA 913.498985
ARS 1003.990419
AUD 1.535473
AWG 1.8025
AZN 1.703112
BAM 1.859028
BBD 2.018819
BDT 119.494913
BGN 1.865705
BHD 0.376905
BIF 2897.5
BMD 1
BND 1.343751
BOB 6.909335
BRL 5.814602
BSD 0.999857
BTN 84.485602
BWP 13.651378
BYN 3.272548
BYR 19600
BZD 2.015674
CAD 1.397075
CDF 2870.000138
CHF 0.88679
CLF 0.035284
CLP 973.590189
CNY 7.235798
CNH 7.255525
COP 4390.5
CRC 508.292544
CUC 1
CUP 26.5
CVE 105.624964
CZK 24.210407
DJF 177.720346
DKK 7.11744
DOP 60.403608
DZD 133.587786
EGP 49.671971
ERN 15
ETB 123.398836
EUR 0.954275
FJD 2.2963
FKP 0.789317
GBP 0.793955
GEL 2.724982
GGP 0.789317
GHS 15.849983
GIP 0.789317
GMD 71.000041
GNF 8630.000202
GTQ 7.719178
GYD 209.209595
HKD 7.782925
HNL 25.175013
HRK 7.133259
HTG 131.285912
HUF 392.649975
IDR 15921.85
ILS 3.71219
IMP 0.789317
INR 84.486598
IQD 1310.5
IRR 42105.000205
ISK 139.420269
JEP 0.789317
JMD 158.803485
JOD 0.7091
JPY 154.50898
KES 129.498382
KGS 86.491543
KHR 4049.999882
KMF 469.650117
KPW 899.999621
KRW 1400.354986
KWD 0.30764
KYD 0.833321
KZT 495.877273
LAK 21959.999768
LBP 89550.000273
LKR 290.944865
LRD 180.25028
LSL 18.109739
LTL 2.95274
LVL 0.60489
LYD 4.884975
MAD 10.01395
MDL 18.209124
MGA 4670.999775
MKD 58.714642
MMK 3247.960992
MNT 3397.999946
MOP 8.016062
MRU 39.915037
MUR 46.400064
MVR 15.450074
MWK 1735.999934
MXN 20.411085
MYR 4.46498
MZN 63.902276
NAD 18.109792
NGN 1694.17998
NIO 36.790097
NOK 11.065015
NPR 135.177343
NZD 1.705611
OMR 0.38499
PAB 0.999948
PEN 3.795027
PGK 4.026501
PHP 58.980495
PKR 277.912179
PLN 4.144406
PYG 7848.150595
QAR 3.64075
RON 4.748905
RSD 111.645038
RUB 101.299081
RWF 1371
SAR 3.754185
SBD 8.355531
SCR 13.660962
SDG 601.487009
SEK 11.060521
SGD 1.34643
SHP 0.789317
SLE 22.585039
SLL 20969.504736
SOS 571.495264
SRD 35.405036
STD 20697.981008
SVC 8.749543
SYP 2512.529858
SZL 18.120494
THB 34.733968
TJS 10.649728
TMT 3.51
TND 3.153028
TOP 2.342098
TRY 34.477585
TTD 6.787668
TWD 32.550798
TZS 2652.358996
UAH 41.282881
UGX 3694.533288
UYU 42.610626
UZS 12879.999989
VES 46.272339
VND 25422.5
VUV 118.722009
WST 2.791591
XAF 623.500672
XAG 0.032492
XAU 0.000374
XCD 2.70255
XDR 0.762793
XOF 622.000038
XPF 114.249984
YER 249.899323
ZAR 18.10309
ZMK 9001.199618
ZMW 27.574604
ZWL 321.999592
  • RBGPF

    -0.5000

    59.69

    -0.84%

  • JRI

    0.0000

    13.23

    0%

  • SCS

    -0.0300

    13.04

    -0.23%

  • CMSC

    0.1200

    24.64

    +0.49%

  • RIO

    0.1800

    62.57

    +0.29%

  • RELX

    0.6500

    45.76

    +1.42%

  • NGG

    -0.1700

    63.1

    -0.27%

  • AZN

    1.0600

    64.26

    +1.65%

  • GSK

    0.3500

    33.7

    +1.04%

  • VOD

    -0.1000

    8.84

    -1.13%

  • BCE

    -0.3200

    26.68

    -1.2%

  • CMSD

    0.1850

    24.445

    +0.76%

  • BTI

    -0.1000

    36.98

    -0.27%

  • BP

    0.4400

    29.52

    +1.49%

  • BCC

    2.9500

    140.36

    +2.1%

  • RYCEF

    0.1800

    6.79

    +2.65%

Stock markets diverge as Trump fears build
Stock markets diverge as Trump fears build / Photo: © GETTY IMAGES NORTH AMERICA/AFP

Stock markets diverge as Trump fears build

Global stock markets diverged Wednesday as traders fret over the impact of Donald Trump's presidency on the Chinese and global economies, with fears that his policies could also reignite US inflation.

Text size:

The prospect of higher prices on the back of Trump's planned tax cuts, import tariffs and an easing of regulations gave fresh impetus to the dollar, which has rallied since the Republican's election win last week.

Focus is now on the release of key US October consumer price data due later in the day, with expectations for a slight uptick from the previous month.

"It’s particularly pertinent given concerns that Trump’s tariff policies will be inflationary," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

"If prices are already looking unruly, expectations will rise for Trump's threats to be watered down."

The reading will be pored over for an idea about the Federal Reserve's plans for borrowing costs when it meets again in December.

Major European indices edged higher around midday Wednesday.

Shares in Siemens Energy surged more than 15 percent after the German company posted positive annual results and upgraded its outlook.

Asian markets mostly ended lower as Trump named known China hawks to key cabinet positions, fuelling concerns about another debilitating trade war between the economic superpowers.

"We expect the effective tariff rate on US imports from China to rise to around 40 percent," said Harry Murphy Cruise at Moody's Analytics.

"That would effectively double the rate today," he told AFP.

"It's likely the threat of further tariffs up to the touted 60 percent would be used as a negotiating tool."

Cruise said "China would almost certainly follow suit, imposing tariffs of its own of equal magnitude".

The threat of another standoff comes as Beijing struggles to kickstart growth at home, unveiling a raft of measures at the end of September but leaving traders disappointed.

China's state media on Wednesday reported that Beijing had announced a raft of tax policies aimed at boosting the country's ailing property market.

Wall Street provided a negative lead, with its three main indices finishing in the red Tuesday as investors took a breather from a week-long rally to more record highs.

Traders are keeping tabs on bitcoin after it came within a whisker of breaking $90,000 for the first time on Tuesday owing to Trump's pro-crypto campaign pledges.

- Key figures around 1100 GMT -

London - FTSE 100: UP 0.1 percent at 8,062.73

Paris - CAC 40: UP 0.3 percent at 7,248.33

Frankfurt - DAX: UP 0.3 percent at 19,096.11

Tokyo - Nikkei 225: DOWN 1.7 percent at 38,721.66 (close)

Hong Kong - Hang Seng Index: DOWN 0.1 percent at 19,823.45 (close)

Shanghai - Composite: UP 0.5 percent at 3,439.28 (close)

New York - Dow: DOWN 0.9 percent at 43,910.98 (close)

Dollar/yen: UP at 154.98 yen from 154.59 yen on Tuesday

Euro/dollar: DOWN at $1.0617 from $1.0625

Pound/dollar: DOWN at $1.2741 from $1.2748

Euro/pound: DOWN at 83.31 pence from 83.34 pence

Brent North Sea Crude: UP 0.7 percent at $72.38 per barrel

West Texas Intermediate: UP 0.7 percent at $68.61 per barrel

P.Navarro--TFWP