Spreadex Market Update

Trump travel ban continues to destabilise markets



Monday’s miserable trading continued as the morning wore on, the markets balking at Donald Trump’s Muslim travel ban.

With little else to distract from the weekend’s events investors focused on the instability brought about by Trump’s executive order which could, among other things, impact Middle Eastern investment in America. If this past week is anything to go by the Trump administration is going to be even more exhausting than first anticipated, with even the previously chipper global indices beginning to show signs of controversy-fatigue.

The FTSE maintained its 0.8% fall, taking it to lows not seen since the end of 2016. The UK index was joined in the doldrums by the DAX and CAC; after initially posting less severe losses the German and French bourses saw their decline gather pace as lunchtime approached, dropping 0.8% and 0.9% respectively.

As for the Dow Jones, the US index is facing a 60 point dip after the bell. That still leaves the Dow above 20000, so this isn’t some great rejection of its previous gains; however, if Trump continues to spark protests and global denouncements at his current pace the US index may soon get sick of its President’s destabilising behaviour.

Those looking for a Trump-distraction don’t have too much to work with this afternoon. Of the few pieces of US data set to be released, the most notable is the core PCE price index. The figure is reportedly a favourite of the Federal Reserve, meaning today’s reading could carry some extra weight given the proximity of the latest FOMC get-together. Analysts are expecting slight growth, from 0.0% to 0.1% month-on-month.

            

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