Wall Street in the red on Trump policy uncertainties

Wall Street closed lower on Monday on the back of the uncertainty over the policies of President Donald Trump in his second day in office. There was also a number of corporate quarterly results that came out mixed.

US dollar index -0.57% on the day, Trump slaps down the greenback

At the same time , the greenback was on the back foot while US 10yr yields (-8bp to 2.38%) continued to be key driver in rates and slid to the mid-point of last week’s range (2.30% -2.50%) as part of general trade unwinds, but spreads to Europe (Bunds slid -5bps to 0.36%) were stickier, in-line with USD’s underperformance, noted analysts at Westpac.

Trump signs an executive order to officially withdraw the U.S. from TPP

The Dow Jones Industrial Average closed lower by 27.40 points, or 0.1%, to close at 19,799.85. The S&P 500 just dropped 6.11 points, or 0.3%, to close at 2,265.20 while energy shares got a whack and dropped the hardest with oil prices falling earlier in the shift. Oil: WTI bulls capped at session high, testing back towards 4hr 55 sma

The Nasdaq Composite Index was also a loser, down by 2.39 points at 5,552.94.