US stock market falls and dollar slides as ‘Trump trade’ falters – business live

Republican failure to overhaul US healthcare system sends the dollar reeling

Michael Hewson of CMC Markets says the markets have ‘caught a cold’ from the Republican’s failure to win enough support for their healthcare reforms – despite enjoying a majority on Capitol Hill.

Having overseen a strong rally in stock markets over the past few months the new US president is learning a hard lesson in the differences between campaign promises and the ability to deliver them in a difficult political environment.

President Trump is learning the hard way that there are big differences in promising the earth and then being able to deliver it.

Gold has now recovered almost all its losses since November, as traders dash back into ‘safe-haven assets’.

Dollar and Gold close to reversing all of their post-election moves. $UUP $GLD

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