Yesterday morning, the Wall Street contracts traded with expectations for price hikes, following the publication of the Federal Reserve pressure tests for the US banks, but finally, the Nasdaq opened 1.1% lower and finished the day at -1.44%. The reason for the change in sentiment is apparently a report by NBC and CNN that a draft version of President Trump’s travel ban became into effect yesterday at 8:00 PM, US time.
Last Monday, the court granted a partial victory to Trump regarding his ban to enter the United States from six Muslim-majority countries. According to the new version of the order, the entry of citizens from those six countries to the United States for a period of 90 years, with the exception of “real relations” with Americans, will be prevented.
for major technology companies, Trump’s order could lead to chaos! with many workers in the sector coming from those countries.
“Until the executive order, we did not really care who it was or what religion they belong. said Hussein Kasai, CEO and founder of a London startup in an interview with CNBC.
While the order in force today does not directly affect the large technology companies, investors fear that Trump’s travel ban will be accepted in the end.