US markets will remain in a fragile state until President Donald Trump delivers something concrete, says Capital Link International CEO Brett McGonegal.

“I would also say that the Trump issue that is now overwhelming the market is less about what the Fed is saying and more about what he delivers,” McGonegal added. “He has to break his way through all the hurdles in front of him and start to deliver on something. Until that happens, the US market will be under a cloud.

“The markets are in a very interesting but a very fragile state,” McGonegal says. “The market is very extended, the tech stocks have been on a meteoric rise that’s not sustainable.”