Stock market today: World stocks mixed after Wall Street momentum slows with cooling Trump trade
European markets opened higher on Wednesday while Asian stocks followed Wall Street lower as momentum cooled for the torrid “Trump trade” that swept U.S. markets following Donald Trump’s presidential victory
HONG KONG — European markets opened higher on Wednesday while Asian stocks followed Wall Street lower as momentum cooled for the torrid “Trump trade” that swept U.S. markets following Donald Trump’s presidential victory.
Germany’s DAX edged 0.2% to 19,067.59. In Paris, the CAC 40 added 0.2% to 7,242.33. The U.K.'s FTSE 100 also rose 0.1%, to 8,035.44.
The futures for the S&P 500 were 0.2% higher and those for the Dow Jones Industrial Average were up 0.3%.
Japan’s benchmark Nikkei 225 slipped 1.7% to 38,721.66, as wholesale inflation reached its highest level since July of last year. The corporate goods price index, which measures the price changes of goods traded in the corporate sector, rose 3.4% in October year-over-year, according to Bank of Japan data. The increase was partly attributed to the decline of the Japanese yen against the U.S. dollar.
South Korea’s Kospi lost 2.6% to 2,417.08. Samsung Electronics shares fell by 4.5% in Wednesday trading, reaching their lowest level in over four years.
Hong Kong’s Hang Seng dropped for a fourth day, declining 0.1% to 19,823.45. The Shanghai Composite gained 0.5% to 3,439.28.
Australia’s S&P/ASX 200 fell 0.8% to 8,193.40.
On Tuesday, the S&P 500 slipped 0.3% to 5,983.99, a day after setting its latest all-time high. The Dow Jones Industrial Average dropped 0.9% to 43,910.98, and the Nasdaq composite fell 0.1% to 19,281.40.
Stocks had been broadly rising since last week on expectations that Trump’s preference for lower tax rates and other policies may mean faster
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