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European markets cut-price after Trump returns to White House

By David Oladele



President Trump leaves hospital

Few hours after President Donald Trump returned to the White House, European equities cut price in early trading on Tuesday, October 6.

The region-wide Stoxx 600 was down 0.4 percent while Germany’s Dax was down 0.3 percent and London’s FTSE 100 fell 0.6 percent.

Meanwhile, had reported that President Trump’s return to the White House has had a positive effect on Asian stock as it advanced more than a two-week high.

President Trump on Monday left Walter Reed National Military Medical Center in Bethesda following treatment for COVID-19, and as prospects for a fresh US stimulus package appeared to brighten.

Recall that the US stock futures fell and bonds rallied after The president and his wife Melania Trump tested positive for Covid-19.

Tai Hui, Chief Asia Market Strategist, J.P. Morgan Asset Management said: “There is also some market attention on whether the US Congress will pass the extra stimulus bill.

“If we do see some form of stimulus coming through, I think the market will take it in a positive light as much of the important support from the previous round has expired.”

“The selloff in the US yields is more driven by Trump getting out of the hospital,” said DBS rates strategist Duncan Tan in Singapore.

US crude last stood at $39.27 up 0.13% and, Brent crude rose 0.2% to $41.37. Gold was steady at $1,912 an ounce.

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