- Mysterious diamond-laden necklace fetches $4.8 mn in Geneva auction
- Lawmakers clash, protesters arrested in wake of Amsterdam violence
- Global diabetes rate has doubled in last 30 years: study
- Six Israeli troops killed, deadly strikes in Lebanon
- US envoy says Mexico's 'hugs not bullets' strategy failed
- Lyon and Chelsea stay perfect in Women's Champions League
- Alcaraz beats Rublev to open ATP Finals account, Ruud misses last four chance
- Another clean sheet for Onana as E. Guinea, I. Coast qualify
- From 'Little Marco' to 'Mr Secretary': Rubio shows Trump China push
- Sri Lanka president eyes parliament win in snap election
- Spain flood epicentre braces for fresh deluge
- New York drought conditions fan flames, spur water saving
- Football 'world order' is changing, says Brazil coach
- Maiden century by Varma gives India unbeatable series lead
- Buy now, pay later: Latin America pressured by Chinese online shops
- Republicans complete power takeover with House majority
- Kane disappointed by England Nations League withdrawals
- Trump victory signals golden era for crypto industry
- 'First Buddy': Musk takes unusual star role with Trump
- Workers stage walkout at US maker of Fallout video game
- England will not change 'DNA' against South Africa, says Slade
- Sri Lanka beat New Zealand to go 1-0 up in ODI series
- Biden, Xi to meet in Peru on Saturday: US official
- Spurs coach Popovich suffered 'mild stroke', says NBA team
- Spain flood epicentre under highest alert for fresh rain
- Turkey scrubs up its baths to keep hammam tradition alive
- 'Very humiliating': Bangladesh's Yunus seethes over climate cash fight
- 'Welcome back': Trump, Biden shake hands in White House
- Tech's green wave hits choppy waters
- Fernandes hopes Amorim can 'change the energy' at Man Utd
- Trump, Biden shake hands in White House, vow smooth transfer
- Gatland battling 'pain' during tough Wales rebuild
- COP29 fight for climate money 'humiliating': Bangladesh's Yunus
- McIlroy aims for glory on happy hunting ground in Dubai
- Spain evacuates thousands in fresh flood alarm
- US death row inmate stages jazz protest for release in London court
- Markets stall, inflation and bitcoin rise amid Trump fears
- Germany's embattled Scholz trades blows with rivals as election looms
- Alcaraz beats Rublev to open ATP Finals account
- 'I had to gather my strength': Ukrainians abroad sign up to fight
- 'Legend' Healy set to equal O'Driscoll record against Pumas
- Record stand propels Sri Lanka to 324-5 against New Zealand
- US consumer inflation rises in October on higher housing costs
- S.Africa football chief arrested on fraud, theft charges
- UK's The Guardian stops posting on 'toxic media platform' X
- Stark warning on emissions as leaders divided at COP29
- Berlin's creatives rally against arts funding cuts
- Barca's Fati sidelined with hamstring injury
- Gatland changes four for crunch WalesTest against Australia
- Heavy rains lash Spain after deadly floods
Stock markets retreat on Trump tariff worries
European and Asian stock markets slid Tuesday on worries of a possible trade war between China and the United States when Donald Trump takes over as president, analysts said.
Chinese stocks were already under pressure from disappointment about Beijing's lack of extra measures to boost China's stuttering economy.
The sell-off came despite another record close Monday on Wall Street, fuelled by expectations that Trump will launch tax cuts and other business-friendly policies.
Seen as inflationary measures that will keep interest rates high, the dollar was firm again Tuesday.
Trump's support for cryptocurrency pushed bitcoin to a record high nearing $90,000 at one point Tuesday.
The Republican has meanwhile pledged to impose tough tariffs on imports into the United States, including as much as 60 percent on goods from China.
Trump's decision to pick China hawks for key positions in his cabinet has added to fears the next few years could be bumpy.
"The latest moves from Trump's camp... are sending chills through the markets and casting a decidedly icy glow on US-China relations," noted independent analyst Stephen Innes.
Analysts are also expecting tariffs on European imports, hurting the region's top stock markets in London, Paris and Frankfurt, all of which were down around one percent nearing the half-way stage Tuesday.
Asia's top equity indices closed with big losses -- with Hong Kong finishing nearly three percent lower.
The dollar extended gains against its peers that started after news of Trump's election, which has sparked bets on a pick-up in inflation that could complicate the Federal Reserve's plans to lower US interest rates.
The latest reading of the US consumer price index due Wednesday will be closely watched as investors try to ascertain the central bank's plans for next month's monetary policy meeting.
"We assume the Trump administration will deliver on their key policy proposals with the degree and timing of these policies the bigger uncertainty," said National Australia Bank's Rodrigo Catril.
"Most of these policies (lower taxes, tariffs, immigration, deregulation, unfunded expansionary fiscal policy) can be regarded as pro-growth and or inflationary.
"This means, all else equal, a shallower Fed easing cycle and a stronger dollar," Catril added.
- Key figures around 1100 GMT -
London - FTSE 100: DOWN 1.0 percent at 8,043.41 points
Paris - CAC 40: DOWN 1.1 percent at 7342.52
Frankfurt - DAX: DOWN 0.8 percent at 19,294.98
Tokyo - Nikkei 225: DOWN 0.4 percent at 39,376.09 (close)
Hong Kong - Hang Seng Index: DOWN 2.8 percent at 19,846.88 (close)
Shanghai - Composite: DOWN 1.4 percent at 3,421.97 (close)
New York - Dow: UP 0.7 percent at 44,293.13 (close)
Dollar/yen: UP at 154.01 yen from 153.81 yen on Monday
Euro/dollar: DOWN at $1.0619 from $1.0648
Pound/dollar: DOWN at $1.2820 from $1.2872
Euro/pound: UP at 82.84 pence from 82.73 pence
Brent North Sea Crude: UP 0.6 percent at $72.27 per barrel
West Texas Intermediate: UP 0.6 percent at $68.47 per barrel
J.Bergmann--BTB