New York — US and European shares tumbled on Tuesday over concerns higher interest rates and pro-growth US policies are on hold, boosting safe-haven Treasuries and gold prices, while the euro hit a more than six-week high against the dollar on soothed French election worries. The US S&P 500 financial sector fell more than 2% and was on track for its biggest daily plunge in two months. Analysts attributed the selling to reduced confidence that US President Donald Trump’s pro-growth policies, including financial deregulation, would occur soon, and to concerns of a dovish Federal Reserve. The Fed stuck to its outlook for two more hikes in 2017 last week, instead of the three expected by many market participants. The tech-heavy US Nasdaq Composite fell more than 1.3% after hitting a record intraday high earlier on the back of Apple shares, which briefly touched a record $142.80 a share. Europe’s broad FTSEurofirst 300 stock index also fell after earlier hitting a 15-month high. "Led by ...
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