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Asian markets fell again on Wednesday as traders sweat over the impact of Donald Trump’s presidency on the Chinese and global economies, with fears that his policies could also reignite US inflation.
The prospect of prices spiking again on the back of tax cuts, import tariffs, and an easing of regulations gave fresh impetus to the dollar, which has rallied since the Republican’s election win last week.
Traders are also keeping tabs on bitcoin after it came within a whisker of breaking $90,000 for the first time, though observers are betting on it hitting $100,000 owing to Trump’s pro-crypto campaign pledges.
Asian markets have pulled back this week as his cabinet begins to emerge.
That comes as Beijing struggles to kickstart growth at home, unveiling some measures at the end of September but leaving traders disappointed with anything new at a much-anticipated announcement this Friday.
Focus is now on the release of key US October consumer price data due later in the day, with expectations for a slight uptick from the previous month.
