Trump did not excited markets

World markets on Wednesday showed mixed dynamics. The positive expectations of declaring the details of the tax reform in the US have been replaced by a negative reaction.
European markets on Wednesday grew up on expectations of the US president's speech on tax reform and the meeting of the European Central Bank. The US president did not intrigue: the details of the tax reform were published in the media the day before, and its items in general correspond to the pre-election program. The reform assumes a significant reduction in the tax burden for both business and the public. In particular, the maximum tax on companies' profits is proposed to be reduced from 35% to 15%. In relation to individuals, there are more indulgences: a reduction in the maximum income tax rate from 39.6% to 35%, a lower rate to 10-25%, while it is planned to abolish the inheritance tax and double the standard deductions. The reaction of the US markets to Trump's speech turned out to be moderately negative. Investors obviously expected more details, but in the current form the initiative of the new administration looks weak in terms of the possibility of its harmonization in the Congress.