- Israel face France in Paris football match under tight security
- Beijing's fears after Trump fills key posts with China hawks
- Man with explosives dies trying to enter Brazil's Supreme Court
- South Korea exam sees record number of re-takes after medical reforms
- Asian markets mixed as traders weigh Fed; bitcoin above $90,000
- Pumas seek historic win over 'hurt' Irish
- Advantage Martin as MotoGP reaches gripping climax in Barcelona
- Man with explosives dies trying to enter Brazil Supreme Court
- Mike Tyson, 58, back in ring to face Youtuber Paul
- Hunger in G20 host Brazil is Lula's unfinished fight
- Biden, Xi arrive in Peru ahead of face-to-face at Asia-Pacific summit
- Mysterious diamond-laden necklace fetches $4.8 mn in Geneva auction
- Lawmakers clash, protesters arrested in wake of Amsterdam violence
- Global diabetes rate has doubled in last 30 years: study
- Six Israeli troops killed, deadly strikes in Lebanon
- US envoy says Mexico's 'hugs not bullets' strategy failed
- Lyon and Chelsea stay perfect in Women's Champions League
- Another clean sheet for Onana as E. Guinea, I. Coast qualify
- From 'Little Marco' to 'Mr Secretary': Rubio shows Trump China push
- Sri Lanka president eyes parliament win in snap election
- New York drought conditions fan flames, spur water saving
- Football 'world order' is changing, says Brazil coach
- Maiden century by Varma gives India unbeatable series lead
- Buy now, pay later: Latin America pressured by Chinese online shops
- Republicans complete power takeover with House majority
- Kane disappointed by England Nations League withdrawals
- Trump victory signals golden era for crypto industry
- 'First Buddy': Musk takes unusual star role with Trump
- Workers stage walkout at US maker of Fallout video game
- England will not change 'DNA' against South Africa, says Slade
- Biden, Xi to meet in Peru on Saturday: US official
- Spurs coach Popovich suffered 'mild stroke', says NBA team
- 'Very humiliating': Bangladesh's Yunus seethes over climate cash fight
- 'Welcome back': Trump, Biden shake hands in White House
- Tech's green wave hits choppy waters
- Fernandes hopes Amorim can 'change the energy' at Man Utd
- Trump, Biden shake hands in White House, vow smooth transfer
- Gatland battling 'pain' during tough Wales rebuild
- COP29 fight for climate money 'humiliating': Bangladesh's Yunus
- McIlroy aims for glory on happy hunting ground in Dubai
- Spain evacuates thousands in fresh flood alarm
- US death row inmate stages jazz protest for release in London court
- Germany's embattled Scholz trades blows with rivals as election looms
- Alcaraz beats Rublev to open ATP Finals account
- 'I had to gather my strength': Ukrainians abroad sign up to fight
- 'Legend' Healy set to equal O'Driscoll record against Pumas
- Record stand propels Sri Lanka to 324-5 against New Zealand
- US consumer inflation rises in October on higher housing costs
- S.Africa football chief arrested on fraud, theft charges
- UK's The Guardian stops posting on 'toxic media platform' X
Global stocks slip as markets take post-US election breather
A stocks rally following Donald Trump's US election win lost steam Tuesday as traders looked to consolidate recent gains, sending major indices lower on both sides of the Atlantic.
The euro hit a one-year low and the pound fell against the dollar, which has been invigorated by expectations that Trump's trade policies could keep interest rates higher.
Wall Street's main indices all closed lower after having racked up huge gains in the days following Trump's victory and Republican gains in Congress.
"We got a significant run," Art Hogan from B. Riley Wealth Management told AFP. "After a run like that in such a short period of time, it's not surprising for markets to take a breather."
- Hefty losses -
Leading European and Asian markets closed the day with hefty losses, with both Frankfurt and Paris falling more than two percent and Hong Kong finishing nearly three percent lower.
Chinese stocks were already under pressure after disappointment about Beijing's lack of extra measures to boost China's stuttering economy.
Trump's support for cryptocurrency pushed bitcoin to a record high of almost $90,000 at one point on Tuesday.
Trump's decision to pick China hawks for key positions in his cabinet has added to fears that the next few years could be bumpy for global markets.
"The latest moves from Trump's camp... are sending chills through the markets and casting a decidedly icy glow on US-China relations," noted independent analyst Stephen Innes.
Analysts are also expecting tariffs on European imports, hurting the region's top stock markets.
The dollar extended gains against its peers that started after news of Trump's election, which has sparked bets on a pick-up in inflation that could complicate the Federal Reserve's plans to lower US interest rates.
The latest reading of the US consumer price index due Wednesday will be closely watched as investors try to ascertain the central bank's plans for next month's monetary policy meeting.
"We assume the Trump administration will deliver on their key policy proposals with the degree and timing of these policies the bigger uncertainty," said National Australia Bank's Rodrigo Catril.
"Most of these policies (lower taxes, tariffs, immigration, deregulation, unfunded expansionary fiscal policy) can be regarded as pro-growth and or inflationary," he continued.
"This means, all else equal, a shallower Fed easing cycle and a stronger dollar," he added.
- Key figures around 2115 GMT -
New York - Dow: DOWN 0.9 percent at 43,910.98 points (close)
New York - S&P 500: DOWN 0.3 percent at 5,983.99 (close)
New York - Nasdaq Composite: DOWN 0.1 percent at 19,281.40 (close)
London - FTSE 100: DOWN 1.2 percent at 8,025.77 (close)
Paris - CAC 40: DOWN 2.7 percent at 7,226.98 (close)
Frankfurt - DAX: DOWN 2.1 percent at 19,033.64 (close)
Tokyo - Nikkei 225: DOWN 0.4 percent at 39,376.09 (close)
Hong Kong - Hang Seng Index: DOWN 2.8 percent at 19,846.88 (close)
Shanghai - Composite: DOWN 1.4 percent at 3,421.97 (close)
Dollar/yen: UP at 154.59 yen from 153.81 yen on Monday
Euro/dollar: DOWN at $1.0625 from $1.0648
Pound/dollar: DOWN at $1.2748 from $1.2872
Euro/pound: UP at 83.34 pence from 82.73 pence
Brent North Sea Crude: UP 0.1 percent at $71.89 per barrel
West Texas Intermediate: UP 0.1 percent at $68.12 per barrel
burs-rl/ach/da-tu/aha
J.Pereira--PC