LONDON, , (Pakistan Point News - APP - 11th Nov, 2016 ) - European stock markets retreated Friday and the Dollar rallied on the prospect of higher US interest rates, with dealers betting US president-elect Donald Trump's planned huge spending policies will fire inflation. Despite an all-time high close on Wall Street Thursday, investors across Asia and Europe turned cautious on uncertainties linked to a Trump presidency, while the Mexican peso hit a fresh record dollar low.
After an initial shock, global equities rocketed Wednesday and rose further Thursday after Trump beat Hillary Clinton to the US presidency, with investors hoping for business-friendly policies and measures to boost the US economy, a key driver of world growth. However, there are also worries about his plans after saying he would tear up several trade deals while ramping up import duties. "It's been a Trumper-thumper of a couple of days in markets," CMC Markets analyst Jasper Lawler wrote in a note to clients.