Markets rose on Wednesday.
The S&P 500 rose 0.3 percent despite a hit to health-care stocks after President-elect Donald Trump said at a press conference that he would force price bidding for drugs.
The STOXX Europe 600 rose 0.2 percent and the Nikkei 225 rose 0.3 percent.
While Trump's comments on drug pricing primarily hurt health-care stocks on Wednesday but left the rest of the US stock market relatively unscathed, the US dollar fell.
Analysts at Westpac noted that the lack of clarity provided on future fiscal policies suggests that “markets arguably priced in too much reflation without any solid policy detail”.
Indeed, Thomas H Kee Jr, founder of Stock Traders Daily, thinks that the stock market has reacted prematurely to the potential benefits of Trump's policies and that a decline of 5-7 percent may begin “almost immediately”.
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