Updated from 6 a.m. EST
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Here are five things you must know for Monday, Jan. 30:
1. -- U.S. stock futures fell, European stocks declined and Asian shares finished mostly lower Monday as investors reacted with increasing concern to the immigration ban introduced by Donald Trump.
The dollar fell against the yen following an executive order from the president that placed a 90-day ban on travel to the U.S. by citizens of Iraq, Syria, Iran, Sudan, Libya, Somalia and Yemen.
The ban drew huge protests in a number of U.S. cities over the weekend and had many investors reassessing the impact of other potential Trump policy decisions.
"World leaders were quick to condemn President Trump's executive order to ban U.S. travel from seven Muslim countries. The global reaction has been one of universal condemnation," Stephen Innes, a senior trader at OANDA, wrote in a commentary, the Associated Press reported. "The increase in civil unrest alone should be a concern for investors, and with a lack of clarity on the economic policy front, markets will be cantankerous early in the week as they're completely uncertain of what's next from President Trump on the geopolitical landscape."
The economic calendar in the U.S. on Monday includes Personal Income and Personal Spending for December at 8:30 a.m. EST and Pending Home Sales for December at 10 a.m.
2. -- Starbucks (SBUX) CEO Howard Schultz, in response to the travel ban instituted by the Trump administration, said the coffee giant is developing plans to hire 10,000 refugees over the next five years across the 75 countries where it does business.
Starbucks will begin its hiring focus in the U.S. -- sending a clear message to Trump -- via those people who have served with U.S. troops as interpreters and support personnel in various countries where U.S. forces have sought support.
"Apple would not exist without immigration, let alone thrive and innovate the way we do," Cook said.
3. -- Toyota (TM) lost its position as the top global seller of cars to rival Volkswagen (VLKAY) .
The maker of the Prius and Corolla models said Monday its global vehicle sales rose 0.2% year over year to 10.175 million units. That's below the 10.31 million sold by Volkswagen and the first slide by Toyota from the top spot in four years. Exports to North America, the Middle East, and Africa dropped for Toyota, while they fell in other regions as well for subsidiaries Daihatsu and Hino.