Global stock markets climbed on Tuesday as Donald Trump wasted no time in starting his second term as US president with a raft of announcements affecting the global economy.
Oil prices slumped however on the prospect of more drilling in the United States, while the dollar lost much of its initial gains.
Wall Street’s major indices rose at the opening bell, having been shut on Monday for the Martin Luther King holiday, which coincided with Trump’s inauguration.
Briefing.com analyst Patrick O’Hare spoke of a “Trump bump” in trading.
“This bump follows yesterday’s inauguration,” he said, noting that Trump had “wasted no time with a slate of executive orders that unwound a lot of the Biden administration’s policies”.
On becoming president, Trump signed a executive orders that indicated he could resume his hardball approach to global diplomacy and trade.
He also spoke about the possibility of imposing a 25-percent tariff on …