Diamond industry faces headache as key US market takes a knock

In the diamond industry, the only place that really matters is the US, and the market is starting to look a little shaky. In a country where consumers buy almost half the world’s gems, Tiffany & Co. and Signet Jewelers this week reported disappointing sales. That’s a blow to expectations that President Donald Trump’s pro-business policies would give consumers more money to spend on luxury items such as diamonds.