This week the high inflation fears will dominate the market sentiment once again.
Trump’s move dramatically escalates his battle to control a wave of tens of thousands of asylum seekers, including many Central American families fleeing poverty and violence, that has swelled alongside his promises to make it harder to get U.S. refuge and his efforts to build a wall on the Mexican border.
The announcement rattled investors who feared that worsening trade friction could hurt the global economy. The Mexican peso, U.S. stock index futures and Asian stock markets tumbled on the news, including the shares of Japanese automakers who ship cars from Mexico to the United States.
Chart: US - Mexiko trade
A border shutdown would disrupt tourism and commerce between the United States and its third-largest trade partner, which totaled $612 billion last year, according to the U.S. Census Bureau.
Source: U.S. Cencus Bureau via Reuters
EURGBP slumped to a fresh 1.5 year low of 0.8421. For this week, the key support area is around 0.8400.
Shares of Gambling and resorts giant MGM Resorts (NYSE: MGM) rallied more than 9% on Tuesday and climbed to a fresh 52-week high of $48.94.
The world's largest pizza chain Domino's Pizza (NYSE: DPZ) is set to announce its third-quarter 2021 financial results on Thursday, Oct. 14.