global equities rocked by trump immigration ban
Sunday 2 February 2025
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

With dealers spooked by uncertainty

Global equities rocked by Trump immigration ban

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Global equities rocked by Trump immigration ban

The dollar
London - AFP

Asian and European stock markets sank on Monday with dealers spooked by uncertainty over Donald Trump's divisive immigration ban, dealers said.

The newly-installed US president on Friday signed an executive order banning travellers from seven Muslim-majority countries that was met with widespread outrage from world leaders and mass global protests.

"Global indices have started on the back foot after US President Trump announced one of his most radical policies yet, in the form of a travel ban," said CMC Markets analyst Michael Hewson.

"The resulting press criticism and mass protests appear to have pushed some investors to the sidelines as rising uncertainty in the ability of the president not to cause damage to the US economy starts to increase, and uncertainty rarely bodes well for financial markets.

"This uncertainty has filtered across into European markets," Hewson added.

In foreign exchange, the dollar dived against its major rivals on the back of Trump woes, while Asian markets were subdued in holiday-thinned trade.

A disappointing reading on US economic growth added to the downbeat sentiment with Wall Street ending last week on a negative note.

"The main focus over the weekend has been Trump’s immigration policy and it won’t necessarily surprise to see some heat coming out of the dollar," said IG market strategist Chris Weston.

"Whether the markets start to price in a stronger Trump risk premium is yet to be seen."

- Resilience -

Analysts said markets have shown resilience despite a series of controversial moves by Trump in his first week in office, including a row with Mexico over trade and his proposed border wall, rows with the media over his inauguration crowds and unsupported assertions that millions of people voted illegally in the 2016 election.

This was put down to hopes he will stick to his promise to ramp up infrastructure spending, cut taxes and slash red tape to boost economic growth and corporate profits.

Eyes are now on the Friday release of US jobs data for January, which comes a week after figures showing US growth reached a sluggish 1.9 percent in October-December, well below the 3.5 percent in the third-quarter and below expectations.

The weak figures helped dampen sentiment on Wall Street, where the Dow edged lower Friday, at the end of a week in which it broke 20,000 points for the first time.

- Key figures around 1130 GMT -

London - FTSE 100: DOWN 0.7 percent at 7,133.90 points

Frankfurt - DAX 30: DOWN 0.8 percent at 11,720

Paris - CAC 40: DOWN 0.9 percent at 4,797.30

EURO STOXX 50: DOWN 0.9 percent at 3,274.90

Tokyo - Nikkei 225: DOWN 0.5 percent at 19,368.85 (close)

Sydney - S&P/ASX 200: DOWN 0.9 percent at 5,661.50 (close)

Hong Kong - Hang Seng: Closed

Shanghai - Composite: Closed

New York - Dow: DOWN 7.13 points at 20,093.78 (close)

Euro/dollar: DOWN at $1.0694 from $1.0696

Pound/dollar: UP at $1.2630 from $1.2549

Dollar/yen: DOWN at 114.25 yen from 115.06 yen

Oil - West Texas Intermediate: DOWN four cents at $53.13 per barrel

Oil - Brent North Sea: DOWN nine cents at $55.43

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

global equities rocked by trump immigration ban global equities rocked by trump immigration ban

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

global equities rocked by trump immigration ban global equities rocked by trump immigration ban

 



GMT 05:17 2024 Wednesday ,07 February

Amazon to open first cashierless shop

GMT 06:15 2018 Tuesday ,23 January

Volkswagen clinches record sales

GMT 09:54 2018 Wednesday ,24 January

'Friendly and kind' N. Korean skaters

GMT 06:28 2017 Sunday ,05 November

Trump lands in Japan at start of Asia tour

GMT 20:18 2017 Tuesday ,19 September

Belgium shatter Aussie dream, meet France

GMT 11:46 2018 Sunday ,14 January

'No hope of survivors' in Iranian tanker fire

GMT 03:13 2017 Saturday ,07 October

Cilic pummels Uchiyama to reach Tokyo quarters

GMT 05:13 2017 Wednesday ,05 July

Tesla's budget car is finally on the way

GMT 07:41 2017 Monday ,03 July

Mohammed bin Rashid issues decision

GMT 14:43 2016 Monday ,14 November

Toyota agrees to $3.4bn rust dispute settlement

GMT 11:10 2017 Friday ,23 June

UAE-based humanitarian workers trained

GMT 22:46 2017 Wednesday ,06 September

Carreno Busta storms into US Open semifinals

GMT 07:14 2017 Monday ,11 September

Artillery shells mercenaries in Dhalee

GMT 07:08 2018 Tuesday ,16 January

Lactalis feels heat as families rebuff

GMT 07:36 2017 Sunday ,05 November

Police intervene as demonstrators square off

GMT 17:31 2017 Monday ,13 November

Purists alarmed over moves to make French less macho

GMT 19:16 2017 Monday ,13 February

China's Logistics Activity Stable in January

GMT 10:43 2016 Sunday ,18 September

Several Killed in Central African Republic Violence

GMT 11:34 2017 Saturday ,04 March

Australia bowl out India for 189 in second Test

GMT 01:46 2016 Sunday ,04 December

PM discusses regulations of importing poultry

GMT 12:19 2016 Wednesday ,31 August

Ventura set for Italy debut with France

GMT 20:57 2017 Friday ,17 March

Israeli Drone Crashes in Northern Gaza
Emiratesvoice, emirates voice
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice