Trump-Trade Reversal Sees European Stocks Losing More Ground
- Miners, construction firms slide after Wednesday’s rally
- Aberdeen Asset, Ashmore tumble on emerging-market concern
Stoxx 600 Rally Pauses
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Winners and losers among European stocks in the immediate aftermath of Donald Trump’s election victory swapped places on Friday, sending equities lower.
Industry groups that rallied as Trump defeated Hillary Clinton lost ground, while those that were punished recovered, on bets the moves went too far. Construction firms and commodity producers were among the worst decliners, after rallying Wednesday on optimism of higher infrastructure spending. Drugmakers also fell, after surging on speculation of less regulatory oversight. Bond-proxy sectors such as utilities and real estate firms rebounded from two days of losses.