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Immigration ban ends Donald Trumps stock-market honeymoon
http://www.marketwatch.com/story/the-immigration-ban-just-ended-donald-trumps-stock-market-honeymoon-2017-01-30Welcome to the other Trump trade.
The weekend chaos and backlash that followed President Donald Trump’s signing of an executive order late Friday temporarily restricting immigration from seven Muslim-majority countries was blamed for a “risk-off” reaction across global financial markets, undercutting equities, including U.S. stocks, while bolstering assets viewed as traditional havens, including gold, the Japanese yen and U.S. Treasurys.
Some analysts viewed the market reaction to the immigration order and its aftermath as a wake-up call to investors who had previously focused on the upside implications of Trump’s aggressive round of executive orders and other actions during his first full week in office last week. Instead, the weekend forced investors to weigh the less market-friendly elements of Trump’s agenda.
