Global markets are worried because of the vote delay in healthcare reform

Republicans postponed the bill after failing to gather votes. All participants in world markets have turned their attention to the efforts of Republicans to be able to replace Obamacare on Friday, with failure likely to undermine faith in Donald Trump’s promise to deliver a "phenomenal" U.S. tax reform.

The first 1% drop on Tuesday since October on Wall Street put the world stocks on track to have the worst week, although many analysts continue to determine the decline just as consolidation after months of gains.

The ability of the White House to get legislation in Congress is critical for bets "Trumpflation" fiscal stimulus, tax cuts and capital repatriation, which suggests that it will push inflation to higher growth.

European stock markets pointed to lower open and the dollar dipped back into negative territory against the euro after Republicans postponed plans to vote on the health care bill on Thursday night.

There is still a risk that the vote fails today, (and) there are numerous other uncertainties that suggest anything but a smooth course ahead for implementing the much anticipated tax reform reflation programme.

The dollar recovered some ground against the yen after U.S. Treasury yields inched higher in Asian time, halting an eight-day losing streak.

Source: Yahoo Finance

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