US stocks fall on Trump administration’s travel ban

The US stock market fell on Friday after the White House said it was banning travel to the United States by citizens of seven Muslim-majority countries.

The ban was set to go into effect on Monday.

US stocks rose 0.3% to close at $54.97, after the news came.

The S&P 500 index rose 0 to 1,965.20 points, or 0.1%.

US Treasury yields fell to their lowest level since January as investors took comfort in the US economy’s recovery.

The yield on the 10-year US Treasury note, which is the benchmark interest-rate benchmark, fell to 1.2%, its lowest level in more than two years.

The US benchmark 10-yr Treasury yield rose to 1% in New York.

“I think the market is going to continue to be weighed down by this,” said Chris Pileggi, chief investment strategist at Pileghetti Capital Management in New Jersey.

“This is going into the holiday season and then there will be some headwinds, which will certainly push the yield up, but it’s going to remain relatively low.”

US stocks fell on Trump’s travel order that suspends refugee entry from seven Muslim countries.

Reuters/Carlo Allegri US stocks and bond yields slumped on Friday as investors weighed on the economic recovery from the US recession, the government’s latest tax hike and fears of a potential pandemic.

The benchmark 10:20-year Treasury note was down 2.3 basis points to yield 1.23%.

US stocks also tumbled.

The Dow Jones industrial average fell 11.62 points, to 16,097.50, the S&P 500 fell 0.4% to 2,846.85, the Nasdaq Composite fell 2.4%, to 6,919.06, and the Russell 2000 fell 0% to 651.89.

The Nasdaq composite also dropped 0.5%.

The SAC Capital index fell 0,638.07 points, while the Nasd index fell 1.6%, to 2.966.09.

“The Trump administration is likely to continue pushing through its agenda,” said Scott Schulman, senior economist at Barclays in New Brunswick, New Jersey, adding that the tax hike was likely to boost GDP and the Fed’s monetary policy would remain low.

The Federal Reserve raised interest rates by 0.25 percentage points to 0.50% on Thursday.

Trump said the tax cut would reduce the corporate tax rate from 35% to 15%.

“The result will be lower wages, lower wages and higher unemployment,” Trump said on Friday.

The White House had also promised a cut in the corporate rate to 12% by the end of the year.

The president also called for a $1 trillion infrastructure plan.

“We are going to be making our economy strong again,” Trump added.

“So that’s one of the big things.”

The US dollar weakened to its weakest level against the Japanese yen since February.

The euro rose to $1.0565 from $1,931.75.

The Swiss franc rose 0% against the euro.

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