News / Article

Trump tax cut doubts hit stocks, lift yen vs. dollar

Source: reuters.com/article/us-global-markets-idUSKBN16T017 - Mar 22, 2017

Shares fell on Wednesday, driving investors to the safety of government debt, gold and the yen, as doubts grew that U.S. President Donald Trump can deliver on a promise of tax cuts that had powered stocks markets to record highs.

Wall Street was expected to open slightly lower, index futures showed ESc1 SPc1 1YMc1, and the CBOE's VIX index .VIX, known as the "fear gauge", briefly topped 13 percent for the first time since mid-January.

European shares hit two-week lows and Asian equities suffered their biggest one-day fall since Dec. 15. After sharp falls on Tuesday, MSCI's world stocks index .MIWD00000PUS fell half a percent for its biggest two-day drop since the same date.

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Category: General Business