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'Markets disappointed' with lack of detail from Trump

Economic strategist Tumisho Grater says she was hoping for Trump's speech to provide more details on his policies.

Donald Trump makes his first speech after being inaugurated as US president. Picture: AFP

JOHANNESBURG - As global markets digest the historic change of power after Donald Trump's official swearing in as the president of the United States, some economists say investors should be prepared for delays and periodic setbacks.

Economic strategist Tumisho Grater says she was hoping for Trump's speech to provide more details on his policies.

“Some of the market participants are waiting to get some clarity around the economic policies. That didn’t happen and it certainly disappointed markets.”

Ahead of the inauguration on Friday South African stock markets closed in the negative territory and with all sectors in the red.

Grater says US equities also took a bit of a knock.

“In terms of immediate market reactions and even during the delivery of the inauguration speech we did see US equity heading session lows, whereas before the inauguration speech took place we did see US equity trading a bit higher.”

(Edited by Zamangwane Shange)