Stock market closes lower, spooked by trump immigration ban – marketwatch


Stocks dropped to close lower Monday with the Dow logging its worst daily loss since mid-October as investors grappled with the latest policy decisions by President Donald Trump. Binary search Wall Street also looked ahead to a heavy week of economic data, corporate earnings and the latest meeting by the Federal Reserve set to begin Tuesday.

finished down 122.65 points, or 0.6%, at 19,971.13, dropping below the psychologically important 20,000 level. Eur usd live chart Earlier, the average was down by as many as 223 points. Binary subtraction examples The last time the average had a worse day was Oct. Investing in futures market 11, according to FactSet data. Taux de change euro dollar canadien Shares of Caterpillar Inc. Usd yen chart CAT, -0.44%

shed 13.79 points, or 0.6%, to finish at 2,280.90, recovering from a 27-point deficit for its worst one-day performance since Dec. 200 usd to eur 28. Online currency rates in pakistan The day’s losses were broad, with nine of the S&P 500’s 11 primary sectors finishing lower, with energy, materials and tech the worst performers.

While stocks reacted favorably to Trump’s election in November, with major indexes hitting a series of records as investors bet he would push for lower taxes and deregulation, the first week of his administration was marked by confusion and controversy. Usd cad news Tensions have been high between the U.S. Exchange rate usd aud and Mexico, while a public outcry that occurred over a travel ban this weekend sowed further doubts among some analysts that lack of equity volatility could continue.

Some investors speculated on what weekend moves by the Trump administration to ban immigrants from several predominantly Muslim countries could have on businesses worldwide.

Currency converter rmb to usd Others said it was another reason not to expect the year to go smoothly.

“While we continue to think a Trump victory likely means higher U.S. Market opening futures growth in 2017 than we would have expected three or six months ago, we still think volatility will be a feature of the year,” wrote Deutsche Bank analysts Jim Reid and Craig Nichol, in a note to clients on Monday. 50 eur to usd “It just seems that there are too many uncertainties, unknowns and major policy changes attached to a Trump presidency for it to be a smooth year.”

The immigration issue may have become the hot key issue to roil markets as it flies against much of the pro-business sentiment that has been assumed to be baked into the Trump agenda. Usd aud conversion Several executives decried the immigration ban as being bad for business.

The immigration ban “has a lot to do” with the selloff, said Randy Frederick, managing director of trading & derivatives at Schwab Center for Financial Research, in an interview. Zloty to usd “Many tech leaders have not been pro-Trump, but here is where it has the potential to hit the bottom line.”

While Trump enjoys status as being one of the most powerful men in the world as the president of the U.S., he also risks going to battle against several of his fellow billionaires, who essentially underpin the workings of the U.S. Exchange rate us to canadian dollars economy, Frederick said.

Fed meeting, data: In the latest economic data, consumer spending rose 0.5% last month, matching the estimate of economists polled by MarketWatch. Currency converter rs to usd That is the biggest increase in spending in December since the last month of 2009. Rub usd exchange rate The same report showed a pick up in a yearly comparison of inflation, to its highest since late in 2014. Historical exchange rates usd cad Separately, pending home sales rose 1.6% in December.

The Federal Open Market Committee’s two-day meeting kicks off Tuesday, with economists widely predicting the central bank will hold pat and leave interest rates unchanged. Exchange rate usd gbp That means investors will likely focus on “any new guidance on the ‘balance of risks’ statement with respect to policy confidence about further stimulus withdrawal,” said Lena Komileva, chief economist at G+Economics, in a note to clients.

Stocks to watch: The coming week will feature reports from one-fifth of the S&P 500 index, plus five Dow components. 1 usd to zwd Crucial for the consumer-reliant technology sector will be Apple Inc. Exchange rate us to india AAPL, +0.94%

said domestic flights were resuming after a computer glitch caused cancellations on Sunday night and into Monday. Feeder cattle futures market prices Shares fell 4.1%. Flower tattoo designs The sector, led by a 4.4% loss in American Airlines Group Inc. Investing com aud usd AAL, +2.49%