The New York Stock Exchange: The change in mood is evident in stock market sentiment and consumer confidence. Photograph: Spencer Platt/Getty Donald Trump’s election was greeted euphorically by markets, but the Trump bump is over. This is evident in the divergence in global stock prices. The S&P 500 has treaded water in 2025, even as the Euro Stoxx 600 (up 9 per cent) and Chinese technology stocks (MSCI’s China Tech 100 index is up 27 per cent) have raced higher. The change in mood is also evident in US consumer confidence, which sank in February by the most since August...