London — European stocks and bond yields edged lower on Monday and the dollar briefly hit a six-week low after US President Donald Trump began his term in office with a protectionist speech that drove a nervous market into safe-haven assets. Wall Street was set to open slightly lower, tracking stock markets in Europe and parts of Asia, having hit multi-year highs earlier this month on expectations Trump would boost growth and inflation with extraordinary fiscal spending measures. However, his inaugural address on Friday, signalling an isolationist stance on trade and other issues, led investors to retreat to the safety of higher-rated government bonds. Trump also made it clear that he plans to hold talks with the leaders of Canada and Mexico to begin renegotiating the North American Free Trade Agreement. U.S. stock futures were down 0.2%, pointing to a lower open after European stocks touched their lowest levels this year in early trades. By midday, the broad STOXX index had come of...
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