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Stocks & Bond Yields Collapse After Trump Announces EU Travel Ban

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Shortly after President Trump began his address to the nation, enacting a full travel ban from European nations for the next 30 days, the markets started to get upset.

Dow futures are down over 850 points…

Japan’s Nikkei 225 is down over 350 points…

10Y Treasury yields are down 15bps…

The Euro is strengthening against the dollar…

It appears Trump did not offer enough detail and immediacy to appease the market’s need for funds to stop the collapse. Additionally, the uncertainty over the impact on European supply chains is also weighing on markets.