Trump, Brexit uncertainty hit stocks and dollar, gold jumps

Trump, Brexit uncertainty hit stocks and dollar, gold jumps

17 January 2017, 18:52
Josephine Kreus
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Stocks and the dollar fell and gold rose on Tuesday as investors looked for safety after President-elect Donald Trump said the U.S. currency was too strong, while sterling jumped as UK Prime Minister Theresa May promised Parliament a vote on Brexit.

Wall Street opened lower, weighed down by financial and healthcare stocks, and U.S. Treasury prices gained on concerns about Trump's protectionist trade policies. Ahead of Friday's inauguration, investors were waiting to see if Trump would follow through on pledges for tax cuts, infrastructure spending and lighter regulation.

Investors fled the dollar after Trump said U.S. companies could not compete with China "because our currency is too strong. And it's killing us", in remarks published on the Wall Street Journal's website on Monday. [Read more... http://snip.ly/fwlxd ]
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