Relief rally fizzles out as traders try to grasp Trump’s U-turns

LONDON/SINGAPORE (Reuters) -Stocks drifted on Thursday and a rebound in the dollar lost traction as investors tried to sift through the noise from the Trump administration and its fickle stance on tariffs and the Federal Reserve’s leadership. Over the last week, U.S. President Donald Trump rained attacks on Fed Chair Jerome Powell then retracted calls for his resignation, and left investors none the wiser on the ultimate state of tariffs on China despite many headlines. The Trump administration would look at lowering tariffs on imported Chinese goods pending talks with Beijing, a source told Reuters on Wednesday.

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