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Stocks Rise, Dollar Drops as Trump Effect Fades: Markets Wrap

  • Health-care share sink as president-elect targets drug prices
  • Trump leaves out stimulus details as equities churn in range
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Why Commodities in China Are Surging Anew

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Donald Trump’s first press conference as president-elect spurred a brief bout of volatility on U.S. financial markets before stocks, the dollar and Treasuries drifted back toward pre-event levels with investors still awaiting details on the Republican’s policy prescriptions.

Treasuries rallied, the dollar tumbled more than 1 percent from its high and U.S. stocks erased gains as Trump took the podium around 11:15 a.m. in New York. Health-care shares led equity losses on comments that he’d force the industry to bid for government business, while Mexico’s peso headed for a fresh low as Trump didn’t soften his stance on America’s business relations there. Haven assets advanced.