London — World shares fell on Friday and the dollar slipped against major and heavyweight emerging-market currencies, as nagging uncertainty about a US tax cuts package dovetailed with broad-based end-of-year caution. It was a groggy end to what was still set to be a third week of gains for MSCI’s global stock index following more upbeat data and signs that central banks, including the Federal Reserve, will keep treading carefully with interest rate increases. Japan’s Nikkei had followed Wall Street lower overnight. Europe slipped too as a 15% slump in fashion giant H&M and near 9% drop Italian luxury goods firm Ferragamo spooked retailers. Banks struggled too on a renewed dip in eurozone bond yields after Thursday’s message from the European Central Bank (ECB) that it was sticking to its pledge to keep money pouring into the bloc’s economy for as long as needed. "The theme is still one of gradual policy tightening," said Société Générale interest rates strategist Jason Simpson, who...
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