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European stocks fell across the board Monday as investors reacted to increasing concern over President Donald Trump's immigration ban and took a defensive stance ahead of key central bank meetings later this week.

The region-wide Stoxx Europe 600 Index was marked 0.53% lower by 08:30 GMT as benchmarks around Europe drifted lower, led by a 1.33% decline for the CAC-40 in Paris. Germany's DAX performance index lost around 0.5% in the opening 30 minutes of trading while Britain's FTSE 100 slid 62 points, or 0.9%, with a collection of sectors recording declines.

One early mover of note to the upside was Vodafone Plc (VOD) - Get Free Report , which gained nearly 3% to change hands at 199.1 pence each after it confirmed it was in potential merger talks with India's Idea Cellular (ICLQY)

Overnight in Asia, most equity markets gave back gains in thin trading as benchmarks in China, Hong Kong, South Korea and Singapore remained closed owing to the New Year observances. Japan's Nikkei 225, the largest market in the region, closed 0.51% lower at 19,368.85 points as a stronger yen weighed on export stocks. Australia's S&P/ASK drifted around 0.52% lower.

The U.S. dollar, the most liquid of the overnight assets, fell around 0.3% to 100.25 with much of the move linked to the global reaction to Trump's decision to issue an Executive Order banning immigration from seven majority-Muslim states. The decision has prompted significant backlash both at home and abroad, where even some of the country's staunchest allies have been publicly critical of the President. The greenback rebounded in early European trading, however, and was marked at 100.44 by 08:30 GMT. 

Oil prices were also on the back foot, as traders adjusted positions in advance of increased supply from the United States, where the amount of active rigs increased by 15 last week to 556, the highest since November 2015. That said, data last week indicated traders are holding 'net long' positions in the oil market at level not seen since mid 2014, suggesting upward prices pressures in the days ahead.

Wall Street ended a record-breaking week with slight losses last Friday as a slump in crude oil prices pressured energy and industry bellwether Alphabet (GOOGL) - Get Free Report disappointed on earnings.

The S&P 500 fell 0.09%, the Dow Jones Industrial Average fell 0.04%, and the Nasdaq was up 0.10%.

Early indications from U.S. futures suggest Wall Street will follow global equity markets lower, with a 48 point decline priced into the Dow, a 6 point fall expected for the S&P 500 and an 11.7 slide called for the Nasdaq.