Markets are capsized by US president Donald Trump’s immigration policies. Trump recently fired US acting attorney general adding to the uncertainty surrounding the novice administration.
A swarm of nerves swept over markets on the back of Trump’s policy reforms including; a ban on immigration from majority-Muslim counties, movement towards protectionist trade and the firing of Sally Yates, an attorney general, for defying executive orders on the infamous immigration ban. The dollar slumped in the days after the weekend and is now stuck in a downward trend.
Trump’s polices have caused jitters around the markets as investors question the security of their foreign investments.
Equity markets shine out as the most pronounced bearish market. FTSE 100 is experiencing the largest slump, falling to 2017 lows, now trading at £7076. The Dow Jones has given up the gains it enjoyed last week, now trading at $19867.
Asian equities continue to pair off gains thanks to growing global uncertainty. The MSCI is down 0.05%, trading at ¥355.40. The SPI 200 is down 0.55%, trading at $8602.5.
European equities have escaped the downturn, this morning. CAC 40 is trading up 0.25% at €4810.0. Dax 30 is up 0.14% trading ta €11731.50.
As equity markets suffer, euro currencies are climbing. While on the dollar and pound slump on the back of overwhelming unpredictability.
Heading over to commodities, crude oil is falling. Oil has been stuck between the $52-$53 mark. Oil will need an impactful force to shift the price beyond this equilibrium.
Gold, on the other hand, has lifted. Investors are seeking refuge in the safe-haven commodity, as geopolitical doubt has engulfed markets.
15:00 GMT US consumer confidence report
10:00 GMT Eurozone inflation data
Pending: Apple’s earnings release