Thursday, April 19, 2018 | ePaper

World equities wobble as Trump health bill vote canceled

  • Print
AFP, New York :
World equity markets wobbled Friday, with US stocks finishing mostly lower, as investors monitored a swirl of negotiations surrounding President Donald Trump's health care replacement bill, before the surprise decision to cancel the vote in Congress.
The fate of the repeal of former president Barack Obama's signature legislation has been seen by US and international investors as a critical early test for the Trump administration's capacity to push its agenda through Washington.
Expectations for pro-growth policies from Washington have fueled a worldwide stock rally since Trump's election win in November.
The health care replacement was heading for almost certain defeat before congressional leaders canceled the vote at Trump's request just before it was to take place Friday afternoon, despite pressure from Trump in person Thursday and in tweets Friday morning to pass the bill.
Stocks hit session lows shortly before the decision to pull the plug on the bill, but the market regained some ground after the news became public that the vote would not happen.
The late rebound, which was not enough to lift the Dow and the S&P 500 into positive territory, appeared to stem from the idea that canceling the vote was a better outcome than an actual defeat.
"It's a setback but the market is telling you it's a minor setback," said JJ Kinahan, chief market strategist at TD Ameritrade.

More News For this Category

Who owns your work?

Who owns your work?

Alyssa Walker :You work. You work a lot. You produce papers, theses, prototypes, and lab results. You write about all of it. It's yours, right?Wait-you're doing all of this

International Management in two languages

International Management in two languages

G. John Cole :International management is all about creating global business strategies to foster positive change in international companies and organizations. Study business management with an international dimension and

Improving global literacy

Improving global literacy

Sophie Edwards :Literacy experts and advocates gathered in Oxford this week to discuss the latest thinking around how to promote global literacy.Despite recent improvements, it remains a major challenge

Careers for outdoor recreation

Careers for outdoor recreation

Joanna Hughes :Outdoor recreation contributed $373.3 billion to the US GDB in 2016 -- surpassing other industries like utilities and mining. Not only that, but it's expanding: With a

The uncompromising teacher

Arun Kanti Chatterjee :Recent growing incidents of violence on many school and college campuses leading to the manhandling of teachers sadden me very much. We are terrified all the

Population growth and higher education in Bangladesh

Population growth and higher education in Bangladesh

Dr. P R Datta and Mark T. Jones :For anyone interested in Bangladesh and its future success, an important starting point has to be the current and projected population

Study Logistics and Transportation Law

Study Logistics and Transportation Law

Joanna Hughes :With the logistics and transportation industry growing at a staggering rate of 23 percent every 10 years, the next few years will see a giant leap in

Rethink your approach to economics

Rethink your approach to economics

G. John Cole :It's been an unprecedented decade for global economics.While many of the headlines have fixated upon the big players and the larger aggregate economy, ordinary people have

Zero Discrimination Day

Zero Discrimination Day

Alyssa Walker :March 1, is Zero Discrimination Day, a day sponsored by UNAIDS. UNAIDS is highlighting the right of everyone to be free of discrimination. This includes discrimination based

We can't own girls, we owe them

We can't own girls, we owe them

Julia Gillard :Just two weeks ago, we learned of yet another tragic abduction by Boko Haram of girls in northeastern Nigeria. A near replay of the 2014 mass kidnapping