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Market Extra: ‘Trump disappointment trade is now in full swing’ — analysts on global stock selloff

Markets worldwide are starting off the week spooked by Republican-controlled Washington’s failure to repeal and replace Obamacare.

That has dented confidence in President Donald Trump’s ability to muster enough political support to deliver on his promises of reform, seen as helping drive the recent rally for equities.

Read:Debt limit looks like a real struggle after health bill debacle

It’s looking like tough times for stocks on Monday, while gold and other safety plays are shining.

“The markets are having their own ‘Trump tantrum,’ as investors seriously doubt whether the president’s abrasive style will work in Washington,” said Kathleen Brooks, research director at City Index, in a note.

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