Traders have slammed the brakes on the sharemarket’s Santa rally, concerned higher tariffs promised by US president-elect Donald Trump could slow the pace of interest rate cuts from the Federal Reserve.
Last week, US markets slipped from record highs and Australian shares touched a one-month low as a wave of profit-taking swept through equities in the lead up to the central bank’s meeting this Wednesday (Thursday AEDT).
Source: https://www.afr.com/markets/equity-markets/santa-rally-on-hold-as-federal-reserve-mulls-trump-2-0-20241215-p5kyfz