NEW YORK — U.S. stocks are drifting as momentum comes out of the “Trump trade” that swept Wall Street following Donald Trump’s presidential victory. The S&P 500 was flat early Tuesday, coming off its latest all-time high. The Dow Jones Industrial Average was up 39 points, and the Nasdaq composite was down 0.1%. Stocks have been rising on expectations that Trump’s preference for lower tax rates, higher tariffs and less regulation will mean faster economic growth.
Japan's benchmark Nikkei 225 reversed early gains to decline 0.4% and finish at 39,376.09, weighed down by uncertainty about how Trump's policies, including tariffs, may affect local industries.Chinese tech stocks have been declining lately, while investors also have their eyes on upcoming earnings reports out of China.
Several pieces of what’s known as the “Trump trade” has helped drive the market, as investors try to identify which companies will be winners under a second Trump term.
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