According to online reports the current policy in the US is responsible for dwindling stock markets in the US, which has affected the global stock market, it was reported that U.S. stock futures and the dollar fell on Monday while Asian markets struggled as President Donald Trump’s failure on healthcare reform raised questions about his ability to push through tax cuts and fiscal spending to boost the economy. Trump’s inability to get enough support from his own Republican party to “repeal and replace” the Obamacare health insurance reforms, a major campaign promise, also spurred a rush to safety assets such as gold XAU= and the Japanese yen JPY= The depressed mood is set to pull European stock indexes down at the open with main index futures seen off between 0.5 and 0.6 percent. FFIc1 FCEc1 U.S. stock index futures ESc1 fell 0.7 percent to a six-week low in heavy volume, suggesting a weaker start on Wall Street later in the day. So-called “Trumpflation trades” – betting on an extended recovery in the U.S. and global economies and related assets such as commodities – came under heavy selling pressure.
Global economy uncertainty is responsible for selling pressure experienced during the Asia session.It is quite clear that economy management is not a mere radical approach to things, but has to be systematic approach; if not properly handled can ruin the entire system, and we see situation where anti people and anti economy policies are being proposed but not being supported by the congress. The situation can only be changed when policies that are favourable to the economy are fully implemented.
The global economy need to recover to strengthen the stock markets and this can only be made possible by good policies of the government especially from the US. This situation also reflects in the European markets as the markets also move in the negative direction. this has affected the dollars sell off as well. The government need to do more in making good policies that can revive the stock markets, it is necessary that when all this are put into proper implementation which can in turn boost the economy. below is the highlights of the markets of the activities ranging from the US markets to Asia and Europe;
Trump’s failed healthcare bill pushes USD down: The greenback was trading lower against many of its major peers this morning in what could be the first indicator of investors losing faith in Trump’s financial reform. The US President’s inability to pass his healthcare bill is perceived by some as an indication of the success of his future economic actions.
Investors in the precious metal profited off Trump’s failure, as the safe-haven asset reached a one-month high this morning.
Asia seen lower: As the trading week began in Asia, the negative sentiment in the US carried over, with leading indices showing losses. As the Yen strengthened against the USD, the Nikkei showed significant losses, dropping more than 1.4% this morning.
Despite talks of extending the OPEC-led production cut, oil prices were lower this morning, still trading well below the psychologically important $50 mark.
featured image is from google image.