Global stocks lower after Trump offers scant policy details
KUALA LUMPUR, Malaysia (AP) — Global stocks mostly fell Thursday after President-elect Donald Trump offered scant details on policies during his news conference.
Germany's DAX was down 0.6 percent at 11,582 while France's CAC 40 shed 0.1 percent to 4,882 despite official figures showing eurozone industrial production jumped 1.5 percent in November.
The U.S. dollar rally was based on the assumption that Trump's administration will push through a massive infrastructure building and fiscal stimulus package, which will lead to higher inflation in the future, said Margaret Yang Yan, a market analyst with CMC Markets in Singapore.
The slump in the U.S. dollar index last night indicated that assumption is now unwinding because the president-elect never even mentioned that key word 'stimulus'.
Japan's benchmark Nikkei 225 dropped 1.2 percent to 19,134.70 as the U.S. dollar fell back against the yen, potentially hurting exporters' earnings.