London — All eyes in global financial markets were fixed on stuttering Republican efforts to pass a replacement for Obamacare on Friday, with failure likely to undermine faith in Donald Trump’s promise to deliver a "phenomenal" US tax reform. Tuesday’s first 1% daily fall on Wall Street since October has put world stocks on course for their worst week since before Trump’s election in November, although many analysts continue to cast the decline as simply a consolidation after months of gains. The White House’s ability to get legislation through Congress is crucial to "Trumpflation" bets on fiscal stimulus, tax cuts and capital repatriation that markets late last year assumed would drive inflation and growth higher. European stock markets dipped on opening and the dollar dropped back into negative territory against the euro after Republicans abandoned plans to vote on the healthcare bill on Thursday night. "There is still a risk that the vote fails today, [and] there are numerous oth...
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