Markets give negative response to Trump ban... Trump ban will hit US assets long-term says ‘Dr Doom’...
Markets give negative response to Trump ban
President Trump’s immigration policy has promoted angry reaction around the world, including equity markets.
Chinese New Year has shut many Asian markets including China, Hong Kong and South Korea but those that remain trading closed lower. Sydney’s ASX was down almost 1 per cent while Tokyo’s Nikkei was hit with a double-blow; a stronger yen as the greenback lost ground, and weaker-than-expected retail data.
European indexes are trending lower, eyeing international concern over Trump’s ban on those from seven mostly-Muslim nations. German CPI data and corporate earnings are also in focus.
Wall Street and Toronto are expected to close mixed. Toronto is expected to see some impact from the terrorist attack at a Quebec mosque.
Trump ban will hit US assets long-term says ‘Dr Doom’
Marc Faber, publisher of the Gloom, Boom & Doom report believes that Donald Trump’s immigration policy will have a long-term impact on US assets.
Faber told CNBC that “anyone with a brain” would now think again on whether US assets are a safe haven for investment, as Trump’s policies raise international concern over protectionism.
Although the ban on immigration for certain countries is temporary, “Dr Gloom” Faber told the network that the psychological impact of the policy could last far longer.
Faber is advising shorting US stocks and the dollar.
President Trump’s immigration policy has promoted angry reaction around the world, including equity markets.
Chinese New Year has shut many Asian markets including China, Hong Kong and South Korea but those that remain trading closed lower. Sydney’s ASX was down almost 1 per cent while Tokyo’s Nikkei was hit with a double-blow; a stronger yen as the greenback lost ground, and weaker-than-expected retail data.
European indexes are trending lower, eyeing international concern over Trump’s ban on those from seven mostly-Muslim nations. German CPI data and corporate earnings are also in focus.
Wall Street and Toronto are expected to close mixed. Toronto is expected to see some impact from the terrorist attack at a Quebec mosque.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 20,093.78 (-0.04 per cent) | +1.68 per cent | +22.03 per cent |
| TSX Composite | 15,575.81 (-0.25 per cent) | +1.89 per cent | +21.48 per cent |
| Europe (at 5.00am ET) |
|||
| UK FTSE | 7,120.36 (-0.87 per cent) | -0.29 per cent | +17.07 per cent |
| German DAX | 11,722.10 (-0.78 per cent) | +2.10 per cent | +19.64 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,387.96 (+0.36 per cent) | +2.16 per cent | +15.62 per cent |
| Japan Nikkei | 19,368.85 (-0.51 per cent) | +1.33 per cent | +10.56 per cent |
| Other Data (at 5.00am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 55.31 (-0.38 per cent) |
53.10 (-0.13 per cent) |
1188.20 (-0.02 per cent) |
U$0.7605 |
| Aus. Dollar |
|||
| U$0.7550 | |||
Trump ban will hit US assets long-term says ‘Dr Doom’
Marc Faber, publisher of the Gloom, Boom & Doom report believes that Donald Trump’s immigration policy will have a long-term impact on US assets.
Faber told CNBC that “anyone with a brain” would now think again on whether US assets are a safe haven for investment, as Trump’s policies raise international concern over protectionism.
Although the ban on immigration for certain countries is temporary, “Dr Gloom” Faber told the network that the psychological impact of the policy could last far longer.
Faber is advising shorting US stocks and the dollar.
