Stock Market Today: Asian shares retreat after Trump's victory as focus turns to the Fed
Shares have fallen in Asia after U.S. stocks stormed to records as investors made bets on what Donald Trump’s return to the White House will mean for the economy and the world
Shares retreated in Asia early Thursday after U.S. stocks stormed to records as investors wagered on what Donald Trump’s return to the White House will mean for the economy and the world.
Markets also were turning their attention to the Federal Reserve’s decision on interest rates, due later in the day.
Japan's Nikkei 225 shed early gains to fall 0.6% to 39,246.86, while the Kospi in Seoul fell 0.4% to 2,554.57.
Australia's S&P/ASX 200 edged 0.1% lower, to 8,191.00.
Chinese shares also declined. Hong Kong's Hang Seng dropped 0.7% to 20,386.36. The Shanghai Composite index also fell 0.7%, to 3,359.99.
Trump has promised to slap blanket 60% tariffs on all Chinese imports, raising them still more if Beijing makes a move to invade the self-governing island of Taiwan.
Investors are adding to bets built earlier on what the higher tariffs, lower tax rates and lighter regulation that Trump favors will mean. Higher tariffs on imports from China would add to the burdens Beijing is facing as it struggles to revive slowing growth in the world's second-largest economy.
Higher tariffs on imports from China, Mexico and other countries also would raise the risk of trade wars and other disruptions to the global economy.
On Wednesday, the U.S. stock market, Elon Musk’s Tesla, banks and bitcoin all stormed higher, however, as investors made bets on what Donald Trump’s return to the White House will mean for the economy and the world. Among the losers the market sees: the renewable-energy industry and potentially anyone worried about higher inflation.
The S&P
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