Run-up since election slows as investors consider risks

Fears include over-valued dollar, trade wars with China and Mexico, Trump not delivering on tax cuts

With just days to go before the inauguration of Donald J Trump as president, once ebullient markets have eased a bit as investors have begun to ponder more seriously the risks of a Trump administration.

After a run-up in the weeks after Trump’s election victory, stock markets in the United States have been little changed in the last month — with investors on several occasions stepping back, as opposed to elevating the Dow Jones industrial average past a 20,000 milestone.

The concerns include a dollar that has gained too much in value, worries about trade wars with China and Mexico and, most