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Here there be leopards
Of the face eating variety. 69 days until chaos.
Contracts on the S&P 500 and Nasdaq 100 indexes slipped about 0.2%, while Europe’s Stoxx 600 gauge lost 1%. Tesla Inc., the EV maker seen as a prime beneficiary of a Trump presidency, dropped in premarket trading after a post-election surge that lifted its valuation past $1 trillion. Other so-called Trump trades remained in play, however, with Treasuries falling, the dollar hitting a one-year high and Bitcoin hovering just below $90,000.
The election outcome has taken investors’ US equity exposure to the highest in three years, suggesting the rally could run out of steam, according to Citigroup Inc. analysts. Traders are also pondering the potential for Trump’s economic policies, including trade tariffs and immigration crackdowns, to spur inflation and affect the path for Federal Reserve monetary policy.
The election outcome has taken investors’ US equity exposure to the highest in three years, suggesting the rally could run out of steam, according to Citigroup Inc. analysts. Traders are also pondering the potential for Trump’s economic policies, including trade tariffs and immigration crackdowns, to spur inflation and affect the path for Federal Reserve monetary policy.