US stocks trade in red amid uncertainty over Trump's fiscal policies

Haresh Menghani FXStreet

Major US equity indices opened lower on Tuesday amid growing uncertainty over the incoming Trump administration's fiscal policies following President-elect Donald Trump's remarks on strong US Dollar. In an interview to the Wall Street Journal, Trump said that a strong US Dollar was killing competitiveness of domestic companies.

Meanwhile, comments from UK Prime Minister Theresa May that the final Brexit deal would be put for a vote in both Houses of the Parliament eased market jitters and limited the losses. Also supporting the indices were upbeat results from Morgan Stanley and UnitedHealth Group Inc.

At the time of report, the Dow Jones Industrial Average was down around 60-points to 19,825, while the broader S&P 500 Index lost 8-points to 2,266. Meanwhile, tech-heavy Nasdaq Composite Index fell over 30-points to 5,543.

In other markets, the US treasury bond yields were slammed across all maturities, while the greenback remained under intense selling pressure with the key US Dollar Index losing over 1.0% for the day and plummeting closer to 100.00 psychological mark.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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