Stocks diverge, dollar rallies as Trump gets to work [Video]

European and Asian stock markets diverged Tuesday and the dollar rallied as Donald Trump wasted no time in starting his second term as US president with a raft of announcements affecting the global economy.

Wall Street reopens later after being shut Monday for the Martin Luther King holiday, which coincided with Trump’s inauguration.

Trading was mixed “as we enter a new four-year period of Trumpenomics”, said Scope Markets analyst Joshua Mahony.

“Once again, Trump appears to care little for who are perceived to be allies or foes, with Canadian and Mexican currencies hit hard off the back of his claim that the US may impose a 25 percent tariff of their exports.

“However, the Chinese markets clearly felt more optimistic, with Trump’s decision to reinstate TikTok followed up by a lack of any mention around tariffs on Chinese imports.”

Trump gave social media app TikTok 75 days to find a …