Asian Stocks Fall as Trump Trade Cools

Asian Stocks Fall as Trump Trade Cools

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Asian Stocks Fall as Trump Trade Cools

Asian markets declined, mirroring Wall Street's downturn, as the "Trump trade" momentum waned. Treasury yields rose, inflation expectations increased, and Bitcoin reached a record high before retracting.

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Donald TrumpElon Musk
How did the price of bitcoin and oil perform?
Bitcoin reached a new record high before retracting, influenced by Trump's pro-cryptocurrency stance. Oil prices saw mixed results, with U.S. crude increasing and Brent crude decreasing.
What are the economists' predictions for U.S. inflation?
Economists predict U.S. inflation to accelerate to 2.6% in October, but underlying inflation is expected to remain steady. This data will be released on Wednesday, offering insights into the economy's trajectory.
What are some of the reasons behind the cooling "Trump trade"?
The cooling "Trump trade" is attributed to several factors, including a jump in Treasury yields and profit-taking after recent market highs. The Russell 2000 index, representing smaller companies, fell significantly.
What was the overall trend in Asian stock markets on Wednesday?
Asian markets followed Wall Street's downturn, as the "Trump trade" momentum cooled. The Nikkei 225 fell 1.1%, Kospi dropped 1.5%, and Hang Seng declined 0.5%.
How did the increase in Treasury yields affect the stock market?
Increased Treasury yields, reaching 4.42% on Tuesday, put pressure on the stock market. This rise is partly due to expectations of higher inflation and government debt under Trump's policies.