European stocks falter as Trump hopes turn to fear

London—European stock markets retreated Friday and the dollar rallied on the prospect of higher US interest rates, with dealers betting US president-elect Donald Trump’s planned huge spending policies will fire inflation.
Despite an all-time high close on Wall Street Thursday, investors across Asia and Europe turned cautious on uncertainties linked to a Trump presidency, while the Mexican peso hit a fresh record dollar low. After an initial shock, global equities rocketed Wednesday and rose further Thursday after Trump beat Hillary Clinton to the US presidency.—APP

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