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

Stocks of companies more focused on the U.S. economy were also rising more than the rest of the market, including a 1.5% rally for the smaller stocks in the Russell 2000 index, because they’re seen as benefiting more from Trump’s America First policies than big multinational companies.

Asian stocks fell on Monday, led by a more than 2% drop in Hong Kong’s Hang Seng index, as China’s stimulus package disappointed investor expectations