Friday, 3 February 2017

Wall Street stalls as market, Trump priorities diverge

US stocks ended little changed on Thursday as the recent rally continued to stall following President Donald Trump's latest comments on trade and the policies he will pursue. The S&P 500 traded at levels it was six weeks ago, losing steam as investors focus on Trump's priorities, such as restricting travel to the United States and rewriting trade deals. Markets had run up sharply following Trump's November 8 election win on the expectation that tax cuts, deregulation and a fiscal stimulus would accelerate economic growth. "The market had only priced in the potentially good type of policies like tax cuts," said Arian Vojdani, investment strategist at MV Financial in Bethesda, Maryland.

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