Trade Deal Rallies Are Fading for Stocks as Fatigue Sets In

Donald Trump may have called it “the biggest of all the deals,” but the EU-US trade pact failed to boost risk appetite in a sign the incremental impact from each new agreement is fading.

European stocks posted modest gains on Tuesday, with the Stoxx 600 Index rising only 0.6% to the highest level in a week. And in the US, the S&P 500 closed flat in the previous session. By comparison, when the US-Japan trade deal was announced, the Nikkei 225 soared 3.5% in a single day.