U.S. equities droped on Monday as a new measure taken by the Trump administration on immigration gave investors pause. The Dow Jones industrial average fell around 185 points after sliding more than 200 points, dropping below 20,000, withGoldman Sachsand 3M contributing the most losses. The S&P 500 dropped 0.97 percent, with energy shedding 2.1 percent.
“Global risk sentiment appears to have been jolted somewhat by the weekend focus on President Trump’s moves on immigration,” according to Scotiabank strategists led by Shaun Osborne in Toronto.
Over the weekend,U.S. President Donald Trump signed an executive orderbanning citizens of Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen from entering the U.S. The order seeks "extreme vetting" procedures for those it did allow to enter the U.S. In signing the order, Trump said he pledged to "keep radical Islamic terrorists out of the USA" .