Markets fall amid fear gains could unravel "very quickly"

Markets fell on Thursday.

The S&P 500 fell 0.2 percent, the STOXX Europe 600 fell 0.7 percent and the Nikkei 225 fell 1.2 percent.

Michael McCarthy, Sydney-based chief market strategist at CMC Markets, said: “There is a growing fear that recent positive moves are based on bombast, and could unravel very quickly.”

Indeed, Vanguard founder Jack Bogle told CNBC on Thursday that while US president-elect Donald Trump's proposals may be bullish for stocks in the near term, they are “bad for society”, the market and the economy in the long term.

In contrast, Kevin Marder at MarketWatch thinks that there are more gains ahead for the stock market.