Donald Trump’s election victory has catapulted US stocks to fresh records and pushed the dollar to a two-year high. It’s anything but good news for the rest of the world.
Equities excluding the US are tumbling, with an MSCI gauge capping its worst day since the Aug. 5 global rout. An index of developing-market currencies has lost more than 1% following the US election, coming close to erasing this year’s gains. European stocks and the euro have flopped.
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