European markets opened higher on Wednesday while Asian stocks followed Wall Street lower as momentum cooled for the torrid “Trump trade” that swept U.S. markets following Donald Trump’s presidential victory.

A White House more friendly to big tie-ups has helped Wall Street speculate about a merger between insurers Cigna Group and Humana, for example. It’s been so feverish that Cigna

By Alun John and Kevin Buckland LONDON/TOKYO (Reuters) -World stocks dropped for a second successive day on Wednesday, jolted by another push higher in U.S. Treasury yields ahead of inflation data that could inform the pace of Federal Reserve policy easing.

Treasury yields resumed their rise as investors looked ahead to crucial consumer price data on Wednesday, which could further erode confidence in Federal Reserve interest-rate cuts next year.

Asian stocks slumped on Wednesday as a sharp rise in U.S. bond yields unnerved investors ahead of key inflation data that could inform the pace of Federal Reserve policy easing. Short-term Treasury yields jumped to the highest since late July overnight as the market reopened after the Veterans Day holiday,