Trump's executive order on immigration spawned legal challenges, widespread protests, and generally dampened the optimism in the financial markets. It led to renewed concerns over protectionist measures and the possibility of conflict in Washington.
This sour mood was reflected in equity markets, which were mostly in the red today. The Industrials fell 123 points with the Transports falling a much further 1.2%. The S&P 500 and Nasdaq were 0.6% and 0.83% lower, respectively.
Europe suffered the same fate, with most averages down over 1%. Performance in Asia was a little better, though nothing to brag about.
The dollar continued to give back gains, while Treasury prices slipped. The yield on the 10-year Treasury note sits at 2.49%.
Precious metals benefitted from the weak market action and weaker dollar, rising $7 per ounce. Silver rose only 2 cents, after its big day last Friday, while platinum added $10. Miners headed the other direction, however, with XAU ... Log in or subscribe to continue reading.