The rally that has propelled both the S&P 500 and the Nasdaq Composite to a series of record highs ran out of steam on Friday (Saturday AEST) amid mixed earnings reports and falling bond yields.
Also denting sentiment was a report in the Financial Times that US President Donald Trump is pushing for a minimum 15 per cent to 20 per cent tariff on all European Union goods.
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Timothy Moore writes on equities, commodities and monetary policy. He writes Before the Bell and contributes to the Markets Live blog. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com