Trump's travel ban weighs on global stock markets

A woman walks by an electronic stock board of a securities firm in Tokyo, Monday, Jan. 30, 2017. Japan's Nikkei 225 index, top in center, fell on uncertainty over the potential impact of U.S. President Donald Trump's travel ban on seven Muslim-majority countries and other immigration actions. (AP Photo/Koji Sasahara)
People stand in front of an electronic stock board of a securities firm in Tokyo, Monday, Jan. 30, 2017. Shares fell in Japan on uncertainty over the potential impact of U.S. President Donald Trump's travel ban on seven Muslim-majority countries and other immigration actions. (AP Photo/Koji Sasahara)
A man looks at an electronic stock board of a securities firm in Tokyo, Monday, Jan. 30, 2017. Shares fell in Japan and Australia on uncertainty over the potential impact of U.S. President Donald Trump's travel ban on seven Muslim-majority countries and other immigration actions. (AP Photo/Koji Sasahara)
A woman eats a soft serve ice cream cone while walking by an electronic stock board of a securities firm in Tokyo, Monday, Jan. 30, 2017. Shares fell in Japan and Australia on uncertainty over the potential impact of U.S. President Donald Trump's travel ban on seven Muslim-majority countries and other immigration actions. (AP Photo/Koji Sasahara)

LONDON — Global stock markets fell Monday after President Donald Trump's decision to impose a travel ban on seven Muslim-majority countries. Investors are wary of what the move presages for global trade, not least because there is so much disagreement around the world over the move.

KEEPING SCORE: In Europe, Germany's DAX fell 0.8 percent to 11,725 while the CAC 40 in France shed 0.9 percent to 4,798. Britain's FTSE 100 was 0.7 percent lower at 7,132. U.S. stocks were poised for a lower open too, with Dow futures and the broader S&P 500 futures down 0.3 percent.

TRUMP TRAVEL BAN: The executive order signed by Trump on Friday placed a 90-day ban on travel to the U.S. by citizens of Iraq, Syria, Iran, Sudan, Libya, Somalia or Yemen. It imposed a 120-day suspension of the U.S. refugee program and blocked Syrians from entry indefinitely. The move triggered protests and confusion at U.S. airports and raised uncertainty about specific industries as well as triggering wider concerns over global trade.

ANALYST VIEWPOINT: "He's sticking to his pledges, adding to concerns that he goes all in and pins chunky import tariffs on China — and elsewhere — to encourage Americans to buy domestic," said Mike van Dulken, head of research at Accendo Markets.

ASIA'S DAY: Japan's Nikkei 225 index fell 0.5 percent to 19,368.85. The S&P ASX 200 in Australia dropped 0.9 percent to 5,661.50 and India's Sensex edged 0.1 percent lower to 27,849.92.

ENERGY: Benchmark U.S. crude rose 13 cents to $53.30 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, which is used to price international oils, was up 3 cents to $55.73 a barrel.

CURRENCIES: The euro was 0.6 percent lower at $1.0640 while the dollar fell 0.3 percent to 114.72 yen.

You may also interested in

China plans 30,000-km high speed rail network by...

Dec 29, 2016

The Chinese government is planning to expand the country's high-speed rail network to 30,000...

China begins to ease its 2,000-year-old monopoly...

Jan 3, 2017

China has started an overhaul of its salt industry, easing a monopoly that has existed in some form...

Asian shares mixed as investors consider latest...

Jan 5, 2017

Asian stock indexes mixed as investors assess latest Fed meeting minutes; Japan shares slip as yen...

China auto market has bumper year but 2017...

Jan 12, 2017

Industry figures show China's auto market had a bumper year in 2016 as sales grew by 15 percent,...

China state media call Trump's Taiwan strategy...

Jan 16, 2017

China's state-run media says President-elect Donald Trump "speaks like a rookie" and called his...

About Us

Frontal Report is an emerging leader in all forms of media. We aim to be the leading news brand for readers around the world.

Contact us: sales[at]frontalreport.com

Subscribe Now!