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| Donald Trump’s immigration policy knocks global markets | Donald Trump’s immigration policy knocks global markets |
| (about 1 hour later) | |
| The dollar and stocks around the world fell on Monday after President Donald Trump introduced highly contentions immigration curbs that attracted sharp criticism from around the world. | The dollar and stocks around the world fell on Monday after President Donald Trump introduced highly contentions immigration curbs that attracted sharp criticism from around the world. |
| Mr Trump over the weekend signed two executive orders to ban refugees from entering the US and to rebuild the military. | Mr Trump over the weekend signed two executive orders to ban refugees from entering the US and to rebuild the military. |
| One order begins the process, in his view, of building up the armed forces, while the other is designed to prohibit radical terrorists from entering the country, but acts as a temporary, blanket ban for any refugee coming to the US. | One order begins the process, in his view, of building up the armed forces, while the other is designed to prohibit radical terrorists from entering the country, but acts as a temporary, blanket ban for any refugee coming to the US. |
| The move sent jitters through global markets, with traders fearful that it would be destabilising. | The move sent jitters through global markets, with traders fearful that it would be destabilising. |
| The UK's FTSE 100 kicked off the session around 0.5 per cent lower after the MSCI's broadest index of Asia-Pacific shares outside of Japan ended the day lower and Australian shares lost more than 1 per cent. | |
| Japan's Nikkei finished the day around 0.5 per cent lower. Demand for the yen, which is considered a relatively safe asset to hold during times of market volatility, weighed on the stock index’s major exporters. | |
| In the US, future contracts pointed to a weaker open on the S&P 500, the Dow Jones Industrial Average and the Nasdaq indexes. | In the US, future contracts pointed to a weaker open on the S&P 500, the Dow Jones Industrial Average and the Nasdaq indexes. |
| The dollar index fell around 0.3 per cent early on Monday, according to Reuters, and the dollar declined around 0.7 per cent against Japan’s yen. | The dollar index fell around 0.3 per cent early on Monday, according to Reuters, and the dollar declined around 0.7 per cent against Japan’s yen. |