The Daily Prophet: The Trump Trade Gives Way to the Reckless Trade

That didn't last long. The Dow Jones Industrial Average spent a total of three days above the 20,000 level before it came crashing down today. President Donald Trump’s order on immigration is raising concern that he is prioritizing the isolationist policies he touted on the campaign trail. That's important because markets got a boost in the weeks after the Nov. 8 election from the promise of a pro-growth agenda centered on fiscal stimulus and tax cuts. Investors are still waiting for news on those fronts.

The selloff wasn't just isolated to the U.S. The MSCI All Country World Index slumped the most since Oct. 11 at one point. All 11 industry groups in the benchmark fell, with airlines particularly hard hit. For U.S. stocks, it was the worst drop this year.