Davos 2018: Trump puts North Korea high on agenda in ‘America first’ speech – as it happened
Rolling coverage of the final day of the World Economic Forum in Davos, including Donald Trump’s speech
- Trump’s speech covers trade deals, North Korea and immigration
- Boos as President describes media as ‘nasty, mean, vicious and fake’
- Trump says market would be down 50% under Hillary Clinton
- Calls for North Korea to be de-nuked
Whether Donald Trump was right or not in his comments about the US stock market, there was no denying it was racing ahead today.
Even weaker than expected US fourth quarter GDP figures failed to hold back the Dow, which jumped to another new high of 26,497. Chris Beauchamp, chief market analyst at IG, said:
Fresh highs for US markets come as investors keep a close eye on the US president’s comments in Davos. Someone appears to have carefully written Mr Trump’s remarks with a view to making him more palatable to foreign leaders, reasoning that a more conciliatory tone will produce results.
Combined with Donald Trump’s uncontroversial Davos address, and a recalculation of Steven Mnuchin’s ‘weaker dollar’ comments after the very negative (over)reaction on Wednesday, the greenback actually reduced its losses against the pound from 1% to just 0.2%, while chopping down its decline against the euro to 0.3%, a third of what it was earlier in the session.
Here’s someone happy with Donald Trump’s performance at Davos:
Heading back from a very exciting two days in Davos, Switzerland. Speech on America’s economic revival was well received. Many of the people I met will be investing in the U.S.A.! #MAGA
